July 5, 2018 / 11:14 AM / 4 months ago

Petra Diamonds divests stake in Kimberley JV for $22 mln

July 5 (Reuters) - London-listed Petra Diamonds has divested its stake in the Kimberley Ekapa Mining joint venture for about 300 million South African rand ($22 million), the miner said on Thursday.

Petra Diamonds said it would sell 75.9 percent stake in the joint venture, which focuses on mining in the South African town of Kimberley, to its joint venture partner Ekapa Mining.

The company said it expected the stake sale to be recorded as a non-cash impairment charge in the region of $35 to $45 million in its 2018 results.

$1 = 13.6785 rand Reporting by Justin George Varghese in Bengaluru; editing by Jason Neely

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