Petra Diamonds says discussions with the Tanzanian government in relation to various issues, including the overdue VAT receivables and the blocked diamond parcel, are ongoing but have been interrupted by the COVID-19 outbreak.
Image credit: Petra Diamonds
The group indicated last February that it had gross VAT receivables of $38.0 million in respect of the Williamson mine.
Of the total VAT receivables, $13.8 million relates to historic VAT pre July 2017.
Petra also had a parcel of 71,654.45 carats that was still blocked for export on August 31, 2017.
Tanzania claimed that the blocked diamonds were worth $29.5 million at the time, but Petra had under-declared the stones for export.
However, Petra said it was not responsible for the provisional evaluation of the stones.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
Petra also had a parcel of 71,654.45 carats that was still blocked for export on August 31, 2017.
Tanzania claimed that the blocked diamonds were worth $29.5 million at the time, but Petra had under-declared the stones for export.
However, Petra said it was not responsible for the provisional evaluation of the stones.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
