– JERSEY, St. Helier – Petra Diamonds Limited (LON: PDL) today announced the appointment of current Senior Independent Director Varda Shine as Chair of the Board of Directors effective from the AGM, to succeed Peter Hill who will retire from the Board after the AGM.
Concurrently, Bernard Pryor will become the Senior Independent Director.
About Varda Shine
Varda Shine is the Senior Independent Director of Ecora Resources plc and a Non-Executive Director of Sarine Technologies Limited (Singapore Listed). Varda is also an executive coach (Meryck & Co. since 2014) and expert adviser in the diamond industry. A 30-year career with De Beers culminated in her appointment as CEO of De Beers Trading Company (a mid-stream business with a turnover of approximately US$6 billion). Varda was the first woman to be awarded honorary lifetime membership of the Israel Diamond Exchange and in 2011 was inducted into the Women’s Jewellery Association Hall of Fame. Varda has also received an Honorary Membership of the London Diamond Bourse. In addition to several appointments as a Non-Executive Director, Varda has worked extensively as an executive mentor focusing on leaders and business growth and transformation and has previously been a Non-Executive Director at Lonmin plc.
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 and Cullinan Mine) and one open pit mine in Tanzania (Williamson). The Koffiefontein mine is currently on care and maintenance in preparation for closure.
Petra’s strategy is to focus on value rather than volume production by optimizing recoveries from its high-quality asset base to maximize its efficiency and profitability. The Group has a significant resource base that supports the potential for long-life operations.
Petra strives to conduct all operations according to the highest ethical standards and only operates in countries that 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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