Diamond miners Petra has sold its Helam mine in North West Province, South Africa.
Petra Diamonds and its black economic empowerment partners have sold their interest in the Helam diamond mine.
Helam was put on care and maintenance in 2015 and no activities have been conducted by Petra since then. New owners Lindleys Mining will take on all environmental obligations.
According to Petra Diamonds the rationale for the disposal of Helam is to support the South African government’s intention to prolong the lives of mines facing closure by facilitating opportunities for emerging miners to the benefit of entrepreneurs, host communities and local employment.
Petra said in a recent statement that Helam is better suited to an operator with an owner-manager approach that is able to only focus on the optimisation of these assets.