Tanzania Nationalizes almost $30m of Petra Diamonds December 23, 20 by John Jeffay
(IDEX Online) - A parcel of diamonds seized three years ago from UK-listed miner Petra has been declared property of Tanzania s government.
It has nationalized the shipment, now said to be worth $29.5m, after a court ruled that two former government employees had deliberately undervalued the gems, which were destined for Antwerp, according to a report on Turkey s state-run
Anadolu news agency.
Tanzania s government is battling corruption a
nd the theft of mineral resources in the country and has passed laws raising mining taxes and forcing companies to renegotiate contracts.
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Royal Dutch Shell shares: what the Christmas lockdown means for the stock
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The oil industry has been one of the hardest hit by the pandemic, and
Royal Dutch Shell(LSE:RDSB) shares are no exception. Global lockdowns have meant cars, aircraft, and cruise ships remained parked and unused. This lack of activity resulted in an immediate decline in the demand for oil-based fuels, and thus oil prices have plummeted.
Due to a new strain of Covid-19, a Tier 4 Christmas lockdown has gone into effect across parts of the UK, with tighter restrictions (if not lockdowns) in others. But what does this mean for the shares of Shell and the oil industry in general?
Top British shares for 2021
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We asked our freelance writers to reveal the shares they’re looking to buy for 2021. Here’s what they chose:
Tom Rodgers: Open Orphan
Investing in
Open Orphan(LSE:ORPH) was definitely a departure for me. At the time, the AIM-listed contract research firm had zero profit, zero dividends, and a sub-£50m market cap. But it’s been my best performer of 2020 by far, up 369% at the time of writing.
US$12.3 TRILLION out of thin air…
And if you click here we’ll show you something that could be key to unlocking 5G’s full potential.