Petra Diamonds

Primary ticker: LSE:PDL
Stage of development: Production
Primary minerals: Diamonds
Project to promote: Petra Diamonds operations

Live financials

Petra Diamonds is a leading independent diamond mining group and a consistent supplier of gem quality rough diamonds to the international market. The Company has a diversified portfolio incorporating interests in three underground producing mines in South Africa (Finsch, Cullinan and Koffiefontein) and one open pit producing mine in Tanzania (Williamson). It also maintains an exploration programme in Botswana and South Africa, which is currently under review.
Petra’s strategy is to focus on value rather than volume production by optimising recoveries from its high quality asset base in order to maximise their efficiency and profitability. The Group has a significant resource base of ca. 290 million carats, which supports the potential for long-life operations.
Petra conducts all operations according to the highest ethical standards and will only operate in countries which are members of the Kimberley Process.

Management Profile

Johan Dippenaar – CEO

Mr. Dippenaar leads the management of the Company, implements the agreed strategy and runs the business on a day-to-day basis. He is a Chartered Accountant with the South African Institute of Chartered Accountants. Mr. Dippenaar has 27 years’ experience in the leadership and management of diamond mining companies. Prior to his appointment as CEO of the Company, he was CEO of ASX quoted Crown Diamonds which merged with the Company in 2005. Since the merger, Mr. Dippenaar has led the Company through a period of significant growth, taking the Company’s annual production from approximately 175,000 carats in FY 2006 to 3.8 million carats in FY 2018 (excluding KEM JV), and establishing the Company as a leading independent producer.

Jacques Breytenbach – Finance Director

Mr. Breytenbach assumed the role of Finance Director in February 2018. He leads the financial management of the Company and is responsible for financing, treasury, financial controls, reporting, legal, investor relations, compliance and corporate governance. Prior to this appointment, Mr. Breytenbach previously held the role of Finance Manager – Operations at the Company since 2006, with responsibility for financial management across the Group’s operations, before becoming Chief Financial Officer of the Group in June 2016. He joined Petra from Anglo Platinum, where he held various roles, culminating in his position as Finance Manager – Capital Projects, with oversight for Anglo Platinum’s extensive capital expansion programmes. He is a Chartered Accountant and a member of the South African Institute of Chartered Accountants.

What is your rationale for attending 121 Mining Investment?

To meet investors

What recent news would you like to highlight to investors attending?

FY 2018 Results; Q1 FY 2019 Trading Update; Q2 FY 2019 Trading Update

What are your key goals for the next 3, 6 and 12 months?

3 Months:

The optimisation of operations to deliver consistent production output with efficient operating and capital expenditure

6 Months:

To generate free cashflow to enable the Company to achieve a reduction in leverage to its target of two times or less consolidated net debt to consolidated EBITDA by the end of FY 2020

12 Months:

To continue to progress the Board’s Succession Plan in line with the Company’s development from a phase of intensive capital expenditure and expansion to a focus on steady-state operations.