DAR ES SALAAM -Australia s Strandline Resources, Black Rock Mining and Orecorp on Monday signed framework agreements with the government of Tanzania, a step towards the development of their mineral.
DAR ES SALAAM (Reuters) - Petra Diamonds will grant the government of Tanzania a 16% free carried interest in its subsidiary Williamson Diamonds Limited, CEO Richard Duffy said at a signing ceremony in Dar Es Salaam on Monday.
Petra Diamonds announced it reached an agreement in principle with the Government of Tanzania regarding the operations of the Williamson Mine. With this agreement, Petra Diamonds aims to establish a sustainable future for the joint venture between Petra and the Government, held through Tanzanian company Williamson Diamonds Limited. To align with the country’s new mining legislation, Petra Diamonds will reduce its stake from 75% to 63%, with Tanzania’s stake increasing from 25% to 37%.