 shares tumbled over 7 percent on Monday morning, after the Tanzanian government imposed a ban on the export of a large parcel of diamonds.){kind=link}
Petra Diamonds (LON:PDL) shares tumbled over 7 percent on Monday morning, after the Tanzanian government imposed a ban on the export of a large parcel of diamonds.
The ban has prevented Petra from exporting a parcel of 71,654.45 carats of diamonds from its Williamson mine their marketing office in Antwerp. Operations at the Williamson mine have been temporarily halted and key personnel are being questioned by authorities. The mine is 75 percent owned by Petra and 25 percent owned by the Tanzania government.
Petra have said they are unaware of the reason why the ban has been enforced, but said in a statement that they are “committed to engagement with the government in order to resolve this matter and ensure that the correct information is available to all parties”.