Update on Operations in Tanzania

RNS Number : 0109S

Petra Diamonds Limited

27 September 2017

 

This announcement contains inside information

27 September 2017

LSE: PDL

Petra Diamonds Limited

("Petra" or the "Company")

Update on Operations in Tanzania

Petra Diamonds Limited announces that it has received authorisation from the Government of the United Republic of Tanzania ("GoURT") to resume diamond exports and sales from the Williamson mine in Tanzania. The exact timing and process for the next diamond parcel export to Petra's marketing office in Antwerp and subsequent sale will now be finalised between the Company and GoURT.

A resolution has not yet been reached with regards to the parcel of 71,654.45 carats from Williamson that was blocked for export (as announced by Petra on 11 September 2017). The Company will provide an update on this as soon as practicable.

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For further information, please contact:

Petra Diamonds, London                                         Telephone: [phone]

Cathy Malins                                                               [e-mail] 

Buchanan                                                                  Telephone: [phone]

(PR Adviser)

Bobby Morse                                                               [e-mail]

Anna Michniewicz                                                       [e-mail]

About Petra Diamonds Limited

Petra Diamonds is a leading independent diamond mining group and an increasingly important supplier of rough diamonds to the international market. The Company has interests in five producing operations: three underground mines in South Africa (Finsch, Cullinan and Koffiefontein), the Kimberley Ekapa Mining joint venture (including the Kimberley Underground mine and extensive tailings retreatment operations) and one open pit mine in Tanzania (Williamson).  It also maintains an exploration programme in Botswana and South Africa.

Petra has a core objective to steadily increase annual production to 5.0 - 5.3 million from FY 2019 onwards. The Group has a significant resource base in excess of 300 million carats.

Petra conducts all operations according to the highest ethical standards and will only operate in countries which are members of the Kimberley Process. Petra is quoted with a premium listing on the Main Market of the London Stock Exchange under the ticker 'PDL' and is a constituent of the FTSE4Good Index. For more information, visit www.petradiamonds.com.

 

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