Petra Diamonds announces Lerato Molebatsi to its Board as Independent Director

– UK, London –  Petra Diamonds Limited (LON: PDL), today announced the appointment of Lerato Molebatsi to its Board as an Independent Non-Executive Director, effective 3 April 2023.

“I am delighted to welcome Lerato to the Petra Board. Lerato has extensive executive and non-executive experience across a range of sectors, primarily in South Africa where the majority of our operations are located, including in corporate communications/public affairs, stakeholder relations, corporate social investments, policy development, black economic empowerment and governance, all of which will greatly assist in the strategic development of the Company,” said Board Chairman, Peter Hill.

Lerato Molebatsi will also serve on the Social, Ethics & Diversity, Audit & Risk, Remuneration, Nomination, and Investment Committees and will become Chair of the Company’s Social, Ethics & Diversity Committee from 1st July 2023.

Concurrently, Octavia Matloa will retire from the Board at the end of June 2023.

About Lerato Molebatsi

Lerato Molebatsi is currently the lead independent Non-Executive Director of the South African Reserve Bank, having been appointed in 2019. Lerato is also an Independent Non-Executive Director of Spur Corporation, the restaurant franchiser listed on the Johannesburg Stock Exchange where she is also Chair of the Social, Ethics, and Environmental Sustainability Committee. She is a member of the Remuneration Committee of South Africa’s Financial Sector Conduct Authority; before this, she was Deputy Chair of the Adrian Group, a Kenyan telecommunications company.

Lerato Molebatsi was previously CEO of General Electric South Africa from 2016 until 2019, having joined General Electric in 2015 as their Director for Government Affairs and Policy for Southern Africa; Executive VP of Communications and Public Affairs at Lonmin plc; deputy Director-General of Corporate Services at South Africa’s Department of Labour; and Special Advisor to South Africa’s Minister of Transport. She has also held senior positions at Old Mutual and Sanlam, including in corporate communications, public affairs, and corporate social investment; Lerato Molebatsi has a strong background in Board governance and ESG matters.

Lerato Molebatsi is a South African citizen, and holds a BA in Psychology from the University of Johannesburg in South Africa, attended the Senior Executive Leadership Programme for Africa at Harvard University in the USA and has diplomas from the Senior Management Development Programme and Rural Development Programme.

About Petra Diamonds Limited

Petra Diamonds is a leading independent diamond mining group and a supplier of gem-quality rough diamonds to the international market. The Company’s portfolio incorporates interests in three underground mines in South Africa (Finsch, Cullinan and Koffiefontein) and one open pit mine in Tanzania (Williamson).

Petra’s strategy is to focus on value rather than volume production by optimizing recoveries from its high-quality asset base in order to maximize their efficiency and profitability. The Group has a significant resource base which supports the potential for long-life operations.

Petra strives to conduct all operations according to the highest ethical standards and only operates in countries which are members of the Kimberley Process. The Company aims to generate tangible value for each of its stakeholders, thereby contributing to the socio-economic development of its host countries and supporting long-term sustainable operations to the benefit of its employees, partners, and communities.


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