DAR ES SALAAM, Dec 13 (Reuters) - Petra Diamonds
will grant the government of Tanzania a 16% free carried
interest in its subsidiary Williamson Diamonds Limited, CEO
Richard Duffy said at a signing ceremony in Dar Es Salaam on
Monday.
The move will bring Petra into line with Tanzania's mining
legislation which sees the government granted a 16% free carried
interest in all major mines in the country. Williamson is
Tanzania's only major diamond mine.
Petra Diamonds and the government of Tanzania will each give
up a proportionate amount of their current stakes to grant the
16% free carried interest. Petra's stake will thus reduce from
75% to 63%, with Tanzania's stake increasing from 25% to 37%,
Duffy said.
(Reporting by Nuzulack Dausen in Dar Es Salaam, Writing by
Helen Reid and Louise Heavens)
Petra Diamonds (PDL)
