Under-pressure Petra Diamonds in R5m Botswana fire sale
Company mired in debt as it struggles to generate revenue from its three mines in SA and one in Tanzania owing to the Covid-19 pandemic
20 July 2020 - 11:42
Cash-strapped Petra Diamonds agreed on the first sale of assets, disposing of its exploration tenements in Botswana, one of the world’s leading sources of diamonds, to reduce its debt.
Petra told the market at the end of June that it had put its entire business, or parts thereof, up for sale as its struggled to generate revenue from its three mines in SA and one in Tanzania because of the global Covid-19 pandemic...
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