Petra Diamonds says discussions with the government of Tanzania to reach an agreement on various issues at the Williamson mine are ongoing, intending to be concluded during the first quarter of the fiscal year 2022.
Tanzania blocked Petra’s parcel of 71,654.45 carats that had been packaged 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.
The Williamson mine had been on care and maintenance throughout the fiscal year 2021.
Meanwhile, the company said that $10 million of VAT refunds were received from the Tanzanian Revenue Authority in two separate payments during the fourth quarter of the fiscal year 2021.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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