6th Dec 2018 14:28
LONDON (Alliance News) - Petra Diamonds Ltd said Thursday it disposed of its interest in Helam Mining Ltd to to Lindleys Mining Ltd for a nominal consideration of ZAR200, about GBP11, with immediate effect.
The Helam mine in South Africa was put on care maintenance by the company in 2015 with no activity having been conducted since then.
The disposal is in line with Petra's strategic priorities of reviewing its portfolio, the firm added.
Lindleys will take on all expenses related to the mine, currently estimated at USD1.7 million per year.
Petra shares were trading down 8.3% at 37.33 pence each.
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