Firestone Diamonds has agreed to postpone the execution conditions for the sale of operations in Botswana affiliated company Tango Mining.
In a statement, the diamond company reported that, thanks to the extension of the terms of the transaction can be completed Tango its funding.
Firestone Diamonds has signed an agreement for the sale to the terms of Tango Mining mine for $ 8 million in July 2015. Previously, the company twice postponed deadlines transaction.
"After further changes in the conditions of contract transaction should be closed no later than September 9" - noted in Firestone.
"All other items are altered agreement remain the same in the event that the final terms of the transaction will not be executed before the renewal date, divestitures will not happen.", - concluded the diamond company.
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Petra Diamonds has faced opposition from the small business community in Kimberley, South Africa, due to the fact that it does not use the services of local suppliers and local service.
According to GroundUp, local community described the company as "untransformed world diamond mining company, the offender" (untransformed international mining bully).
Community called for joint action to close the Petra Diamond Mine.
The representative of the business community Neo Modise (Neo Modise) noted that, although the company has responded to the memorandum of organization business, the answer was only "empty promises black (small and medium-sized enterprises)".
"They (by Petra) unfair responded to our requests - she added -. Local contractors win only 1% of the long-term tendering companies is why we want to mobilize the unemployed youth for holding mass meetings and actions to close the company's mines (South Africa).".
The representative Petra Gert Klopper said that the company is not easy to obtain the necessary production equipment from local companies because of its inaccessibility to them.
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