Thursday, September 28, 2017

Tanzania Government Allows Petra Diamonds to Restart Gemstones Export

Tanzania Citizen

Dar es Salaam — Petra Diamonds Limited says it has received authorisation from the government to resume diamond exports and sales from the Williamson mine.

The ban had been placed after a consignment of diamonds was impounded at the Julius Nyerere International Airport (JNIA) on August 31 on allegations of undervaluation.

"The exact timing and process for the next diamond parcel export to Petra's marketing office in Antwerp and subsequent sale will now be finalised between Petra and the Tanzanian government," a statement released by Petra on Wednesday said.

The government initially said it had confiscated the impounded consignment but later said the ministry of Energy and Minerals said further investigations were taking place to determine the circumstances of the undervaluation.

Criminal proceedings were launched and two government officials have already been charged in court for occasioning a Sh3 billion loss to the government.

A resolution has not yet been reached with regards to the parcel of 71,654.45 carats from Williamson that was blocked for export. The Company will provide an update on this as soon as practicable," Petra's statement reads in part.

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