Petra Diamonds (LSE:PDL), the mining company which partially owns and operates the Williamson diamond mine in Tanzania, has published its Trading Update – Q1 FY 2019 Production and Sales Report, showing a production increase of 18% at the mine.
Williamson’s ROM production increased 18% to 100,278 carats (Q1 FY 2018: 85,213 carats), demonstrating the continued steady operational delivery of the mine.
However, the company notes that it remains in discussions with the Government of Tanzania in relation to the claimed VAT refund of USD25 million.
Petra Diamonds has a diversified portfolio with interests in three underground producing mines in South Africa (Finsch, Cullinan and Koffiefontein) and one open pit producing mine in Tanzania (Williamson).
Williamson, located south of the town Mwanza in northwest Tanzania, is the country’s only important diamond producer.
In 2015, Tanzania was the 10th largest diamond producer in Africa after Botswana (17.3m ca), Angola (7.1m ca), South Africa (6m ca), the Democratic Republic of Congo (3.15m ca), Namibia (1.92m ca), Sierra Leone (0.5m ca), Zimbabwe (0.5m ca), Lesotho (0.35m ca) and Ghana (0.24m ca).