Petra Diamonds’ Tanzanian Mine Could Produce for 50 Years

AllAfrica reported that Tanzania’s Williamson diamond mine, which is majority owned by Petra Diamonds Ltd. (LSE:PDL), has a potential mine life of over 50 years, although the current mine plan only accounts for 18 years.

As quoted in the market news:

Petra’s current mine plan at Williamson is to ramp up [run-of-time] production from ca. 2.5 million tonnes (Mt) in its 2013 financial year to ca. 3.6 Mt by 2016 financial year, following the introduction of a re-crush system into the plant circuit.

[Williamson] is a historic source of high value Type II diamonds and fancy pinks. It is Tanzania’s only important diamond producer and despite having been operated continuously since 1940, the pit is only 90 metres at its deepest point due to the large size of the deposit.

Click here to read the full AllAfrica report.