Petra and Government of Tanzania Reach Agreement Regarding Williamson Mine

Mining and Exploration
13/12/2021 16:37

Petra Diamonds announced it reached an agreement in principle with the Government of Tanzania regarding the operations of the Williamson Mine. With this agreement, Petra Diamonds aims to establish a sustainable future for the joint venture between Petra and the Government, held through Tanzanian company Williamson Diamonds Limited.

To align with the country’s new mining legislation, Petra Diamonds will reduce its stake from 75% to 63%, with Tanzania’s stake increasing from 25% to 37%.