Petra Diamonds has confirmed that a winding-up order has been made against its wholly owned indirect subsidiary, Petra Diamonds UK Treasury Limited (PDUK Treasury), following a petition by HM Revenue & Customs.
The petition, advertised in the London Gazette on 2 October 2026, related to an unpaid corporation tax liability of £5,6 million for the year ended 30 June 2025.
The tax arose from interest income accrued on a receivable owed to PDUK Treasury by Ealing Management Services, another indirectly wholly owned subsidiary and affiliate of the company.
The liability was incurred even though the accrued interest was never received by PDUK Treasury.
Both PDUK Treasury and Ealing Management Services are non-operating subsidiaries and do not own or operate any of Petra’s mining operations.
At the hearing, the court granted the winding-up order against PDUK Treasury.
The petition relates solely to that entity and does not directly affect the group’s mining operations.
Petra said it is assessing the implications for its financing arrangements and ongoing refinancing discussions, and will provide further updates as appropriate.
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
