Tanzania grants Petra authorisation to resume diamond exports, sales

JOHANNESBURG (miningweekly.com) – The Tanzanian government has granted LSE-listed Petra Diamonds authorisation to resume the export and sales of diamonds from its Williamson mine.

The miner and the government will now finalise details of the timing and process for the next diamond parcel to be exported to Petra’s marketing office in Antwerp.

Petra has also noted that no resolution has been reached with regard to the parcel of 71 654.45 ct that was seized by the government earlier this month.

After seizing the parcel of diamonds, the Tanzanian government had questioned key personnel from the mine over allegations that the value of the diamonds had been underdeclared. The government’s evaluation had found a $15-million discrepancy.

At the time, Petra said it was the responsibility of the government’s diamonds and gemstones valuation agency to provisionally valuate the diamond parcels from the mine before they are exported to Antwerp for sale.

Two government ministers have since resigned after they were allegedly implicated in the government’s investigation into the diamond industry, while the head of the State-run diamond and gemstone valuation unit and a government gemstone valuer have been charged with economic sabotage for their role in allegedly undervaluing the parcel of diamonds.