Petra Diamonds Tailings Storage Facility wall breach at Williamson

 
TIDMPDL 
 
FOR IMMEDIATE RELEASE 
 
7 November 2022                                                            LSE: PDL 
 
                            Petra Diamonds Limited 
                         ("Petra") or the ("Company") 
 
        Tailings Storage Facility wall breach at Williamson in Tanzania 
 
Petra announces that earlier today the eastern wall of the Tailings Storage 
Facility (TSF) at the Williamson mine was breached, resulting in flooding away 
from the pit which has extended into certain areas outside of the mine lease 
area. 
 
Williamson's management are at the affected areas together with the Regional 
and District Commissioners. Government and Mine emergency response teams have 
been mobilised. To date, no injuries or fatalities have been confirmed and the 
teams on the ground are engaging with community members to keep them away from 
the affected area. 
 
A CEO-led team is being sent to the site to assist the mine team and to provide 
any support required. Williamson's management is working closely with local and 
regional authorities and Petra will provide further updates as information 
becomes available.  Mine production has been suspended pending an investigation 
into the incident. 
 
Petra currently has a 75% shareholding in Williamson Diamonds Limited, with the 
Government of Tanzania owns the remaining 25%. 
 
This announcement includes inside information as defined in Article 7 of the UK 
Market Abuse Regulation No. 596/2014 and is being released on behalf of Petra 
by the Company Secretary. 
 
For further information, please contact: 
 
Petra Diamonds, London                 Telephone: +44 20 7494 8203 
 
Patrick Pittaway 
investorrelations@petradiamonds.com 
 
Julia Stone 
 
About Petra Diamonds Limited 
 
Petra Diamonds is a leading independent diamond mining group and a supplier of 
gem quality rough diamonds to the international market. The Company's portfolio 
incorporates interests in three underground producing mines in South Africa 
(Finsch, Cullinan Mine and Koffiefontein) and one open pit mine in Tanzania 
(Williamson). 
 
Petra's strategy is to focus on value rather than volume production by 
optimising recoveries from its high-quality asset base in order to maximise 
their efficiency and profitability. The Group has a significant resource base 
of 226.6 million carats, which supports the potential for long-life operations. 
 
Petra strives to conduct all operations according to the highest ethical 
standards and only operates in countries which are members of the Kimberley 
Process. The Company aims to generate tangible value for each of its 
stakeholders, thereby contributing to the socio-economic development of its 
host countries and supporting long-term sustainable operations to the benefit 
of its employees, partners and communities. 
 
Petra is quoted with a premium listing on the Main Market of the London Stock 
Exchange under the ticker 'PDL'. The Company's notes due in 2026 are listed on 
the Irish Stock Exchange and admitted to trading on the Global Exchange Market. 
For more information, visit www.petradiamonds.com. 
 
 
 
END

(END) Dow Jones Newswires

November 07, 2022 05:32 ET (10:32 GMT)

Petra Diamonds (LSE:PDL)
Historical Stock Chart
From Jun 2024 to Jul 2024