Petra Diamonds boosts payments to SA, Tanzanian governments

Aim-listed Petra Diamonds, which has mining operations in South Africa and Tanzania, paid $24.5 million to governments during the financial year ending 30 June 2020 compared with $23.1 million, a year earlier.
The payments made include corporate taxes, royalties, mining and other licence fees, infrastructure improvements, and payments towards custom and excise duties and property rates and taxes.
South Africa received about $17.8 million, while Tanzania got about $7 million.
The total amount received by the two African countries is then subtracted with $234 000 in corporate taxes and other payments made in the United Kingdom.
Petra has a diversified portfolio incorporating interests in three underground producing mines in South Africa (Finsch, Cullinan and Koffiefontein) and one open-pit mine in Tanzania (Williamson).
The group has a significant resource base of about 243 million carats, which supports the potential for long-life operations.
Petra's $650 million loan notes due in 2022, currently subject to restructuring, are listed on the Global Exchange Market of the Irish Stock Exchange.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished