Petra Mulls Extra Finance After Dam Breach

By John Jeffay / January 17, 2023 / www.idexonline.com / Article Link

(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

Recent News

Gold stocks rebound to new highs

April 14, 2025 / www.canadianminingreport.com

US$ and bonds not the safe havens normally expected

April 14, 2025 / www.canadianminingreport.com

Crash driven by tech and highly cyclical sectors

April 07, 2025 / www.canadianminingreport.com

Gold stocks succumb only on second day of plunge

April 07, 2025 / www.canadianminingreport.com

Gold stocks outperform, New Found Gold down on initial MRE

March 31, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok