WASHINGTON, July 3 (Reuters) – The World Bank’s private
investment arm on Tuesday agreed to a $25 million loan to fund
the expansion of London-listed Petra Diamonds Ltd’s Finsch mine
in South Africa.
The International Finance Corp, which has an equity stake in
Petra, said a parallel loan with similar terms would be provided
by Rand Merchant Bank. Petra Diamonds’ expansion of the
44-year-old mine is set to extend its life for a further 18
years.
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