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Pin to quick picksPetra Diamonds Share News (PDL)

Share Price Information for Petra Diamonds (PDL)

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UPDATE 1-Petra Diamonds investigates charges Tanzanian subsistence miners abused

Thu, 12th Nov 2020 08:06

(Adds respone from Tanzanian official)

JOHANNESBURG, Nov 12 (Reuters) - Petra Diamonds said
it was investigating allegations by a British non-governmental
organisation that subsistence miners who trespassed on the
firm's Williamson mine in Tanzania were detained, beaten and
shot at, killing at least seven of them.

The RAID report, based on research conducted between
September 2019 and November 2020, alleged that security
contractors and security employees of Petra's subsidiary
Williamson Diamonds Limited (WDL) used excessive force.

Petra Diamonds told Reuters a specialist external adviser
was conducting an investigation and said an external consultancy
had been appointed to assess WDL's management of its security.

"The board of Petra Diamonds finds the allegations of human
rights abuses at the Williamson mine in Tanzania to be deeply
concerning and is taking the matter extremely seriously," said
Petra Diamonds, which owns 75% of WDL. The state owns the rest.

It said the investigation would be completed by the end of
2020.

Simon Msanjila, a permanent secretary at Tanzania's Ministry
of Minerals, told Reuters he had not seen the RAID report and
could not comment on it.

WDL has suspended the mine chief security officer and the
support services manager, an interim measure taken "whether or
not there is any substance in the allegations", Petra Chief
Executive Richard Duffy said in a letter to RAID dated Oct. 13.

In its report, RAID said it had "found evidence indicating
that since Petra Diamonds acquired the Williamson Mine in 2009,
there have been at least seven killings and 41 assaults of local
residents, many leading to life-changing injuries."

Zenith Security Services Ltd, the security contractor named
in the report, did not respond to a Reuters request via email
for comment.

The allegations highlight tensions caused when mining
companies co-exist with communities who rely on subsistence
mining to supplement their income, as in other parts of Tanzania
and across resource-rich countries in Africa.

Subsistence or "artisanal" miners, who typically use
rudimentary techniques, number around 40 million worldwide,
according to a 2019 estimate by Delve, an artisanal mining
database.

Britain-based law firm Leigh Day had filed a claim in the
High Court of England and Wales in September on behalf of more
than 30 Tanzanians who alleged "abuse breaches of human rights
at the Williamson mine," Petra previously said.

The Williamson mine, active since 1940, is in Shinyanga, one
of Tanzania's poorest regions. It produced a 54.5-carat pink
diamond presented to Queen Elizabeth for her wedding in 1947.

The mine has been shut since April, when Petra put it on
"care and maintenance" after the coronavirus pandemic caused
rough diamond prices to plunge. Petra also operates mines in
South Africa.

(Reporting by Helen Reid; Editing by Sherry Jacob-Phillips and
Edmund Blair)

More News
30 Nov 2022 09:20

Petra Diamonds confirms low risk of further breaches in Tanzania mine

(Alliance News) - Petra Diamonds Ltd on Wednesday said there is a low risk of further breaches at the tailings storage facility wall breach at the Williamson mine in Tanzania.

Read more
30 Nov 2022 08:33

Petra mulling next steps after assessing tailings dam breach

(Sharecast News) - Petra Diamonds updated the market on the 7 November tailings storage facility wall breach at the Williamson mine in Tanzania on Wednesday, reporting that its assessment team found there was a "low risk" of further breaches of the facility, or a breach of the New Alamasi water dam.

Read more
24 Nov 2022 14:33

Petra Diamonds increases sales but average price per carat falls

(Alliance News) - Petra Diamonds Ltd on Thursday said it increased its diamond sales in the second tender for the financial year, but the average price per carat fell.

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11 Nov 2022 09:51

LONDON BROKER RATINGS: UBS cuts Smurfit and GSK; Jefferies likes M&G

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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11 Nov 2022 08:54

IN BRIEF: Petra Diamonds says no fatalities at Williamson facility

Petra Diamonds Ltd - London-based diamond miner focused on South Africa and Tanzania - On Thursday confirms no fatalities or serious injuries at Tailings Storage facility wall breach at Williamson in Tanzania. Says three injuries of a minor nature have been reported and appropriate treatment has been provided. "The cause of the breach is not yet confirmed and an investigation is underway", Petra says.

Read more
10 Nov 2022 14:48

Production at Petra Diamonds Williamson mine suspended for up to 3 months

(Sharecast News) - Petra Diamonds said on Thursday that production from the Williamson mine in Tanzania is expected to be suspended for up to three months following a wall breach and flooding at the tailings storage facility (TSF).

Read more
9 Nov 2022 15:56

UK shareholder meetings calendar - next 7 days

Thursday 10 November 
ACP Energy PLCAGM
Alternative Income REIT PLCAGM
BHP Group LtdAGM
Ferro-Alloy Resources LtdAGM
London Finance & Investment Group PLCAGM
UIL LtdAGM
Friday 11 November 
88 Energy LtdGM re proposed resolutions vote
Abcam PLCGM re approval to leave AIM on 14 December
Galliford Try Holdings PLCAGM
Ingenta PLCGM re capital allocation
Redrow PLCAGM
Monday 14 November 
DeepVerge PLCGM re conditional placing, conditional subscription and broker offer
Tuesday 15 November 
Berkeley Energia LtdAGM
Biffa PLCGM re proposed takeover by ECP
Craneware PLCAGM
Unicorn AIM VCT PLCAGM
Unicorn Mineral Resources PLCAGM
Wednesday 16 November 
European Opportunities Trust  PLCAGM
Finsbury Food Group PLCAGM
GreenX Metals LtdAGM
Jubilee Metals Group PLCAGM
Litigation Capital Management LtdAGM
Marble Point Loan Financing LtdAGM
McBride PLCAGM
Petra Diamonds LtdAGM
Smiths Group PLCAGM
ThinkSmart LtdAGM
  
Copyright 2022 Alliance News Limited. All Rights Reserved.

Read more
7 Nov 2022 11:27

Petra Diamonds halts production at Tanzania mine after wall breach

(Alliance News) - Petra Diamonds Ltd on Monday reported that the eastern wall at it tailings storage facility at the Williamson mine in Tanzania was breached.

Read more
25 Oct 2022 11:34

IN BRIEF: Petra Diamonds quarterly revenue down as diamond sales fall

Petra Diamonds Ltd - London-based diamond miner focused on South Africa and Tanzania - Produces and sells fewer diamonds in first quarter as net debt widens and revenue falls. In the first quarter that ended September 30, revenue falls 10% to USD102.9 million from USD114.9 million a year prior. Diamond sales decline by 10% to 520,011 carats from 578,186 a year ago, while diamond production falls 13% to 763,220 carats from 876,411. The firm notes that lost time injury frequency rate in the quarter improved by 48% to 0.16 compared to 0.31 a year ago.

Read more
21 Oct 2022 18:00

TRADING UPDATES: Botswana Diamonds and Petra Diamonds strike data deal

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21 Oct 2022 09:38

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6 Oct 2022 10:46

LONDON BROKER RATINGS: Berenberg cuts Anglo American and Gem Diamonds

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning:

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14 Sep 2022 10:29

Berenberg raises target price on Petra Diamonds

(Sharecast News) - Analysts at Berenberg raised their target price on diamond ming outfit Petra Diamonds from 107.0p to 130.0p on Wednesday, updating its model for the group following its full-year results.

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14 Sep 2022 09:40

LONDON BROKER RATINGS: Stifel downgrades IAG, easyJet and Ryanair

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

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