Petra Mulls Extra Finance After Dam Breach
January 17, 23
(IDEX Online) - Petra Diamonds says it's considering "additional financing options to provide support" while its Williamson mine is out of action.
It also says it's talking to the government of Tanzania about the sale of a long-disputed diamond parcel that was confiscated in September 2017.
A breach of the mine's tailings storage facility last November released 12.8m cubic metres of muddy water and tailings material over an area of over 5km2.
In an update issued today UK-based Williamson said the breach had forced 286 people from their homes.
New safety measures have been implemented but the root cause of the subsidence that led to the breach has not yet been established, the company said.
"The current estimate of production resuming at the beginning of FY 2024 remains," it said.
Pic courtesy Petra Diamonds