PETRA Diamonds has paid various taxes worth 4,081,000 US dollars (about 9bn/-) to the government for the year ended June. Petra Diamonds owns 75 per cent stake and the government the remaining 25 per cent.
According to the report issued
yesterday, the company made the payments in the form of corporate taxes
(237,000 US dollars), royalties (2,917,000 US dollars), Mining and other
license fees (331,000 US dollars) and others (444,000 US dollars).
In October, Petra’s Williamson Diamond
announced 6.0 per cent increase in production as a result of improved
liberation associated with the new milling section of the plant. The
South African based diamond giant said the Tanzania unit output in year
ending June registered 225,202 carats compared to 212,869 carats in
previous year.
The statement attributed the increase
mainly due to a 16 per cent increase in run of mine grades, partially
offset by throughput constraints experienced during commissioning of the
new milling section during the last half of Petra’s financial year in
2017.
However, revenue decreased 26 per cent
to 58.4 million US dollars compared to 78.9 million US dollars due to
the contribution of revenue from exceptional diamonds. The exceptional
diamond revenue for the year has fallen to 5.2 million US dollars from
25.1 million US dollars of previous financial year.
On expansion plan, the statement showed
that Williamson is expected to see production rise from circa 225,000
carats in this financial year to circa 337,500 ctpa by 2019.
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