Company also forced to close key mine amid ongoing dispute with government over how the precious stones are valued

Petra Diamonds’ stock market value fell after the Tanzanian government seized a parcel of gems valued at nearly $15m (£11.4m) as part of a parliamentary investigation into alleged wrongdoing in the diamond sector.

The London-listed company also had to shut down its Williamson mine, the source of the stones, as “certain key personnel” were questioned by the Tanzanian authorities looking into how diamonds are being valued.

Continue reading…

Facebook Comments