Regulatory Story
Company Petra Diamonds Limited
Headline Organisational Restructure
Released 15:15 15-Nov-2019
Number 6341T15

RNS Number : 6341T
Petra Diamonds Limited
15 November 2019






15 November 2019



Petra Diamonds Limited

("Petra" or the "Company" or the "Group")


Organisational Restructure



Petra Diamonds Limited announces that in order to provide effective support to the Company's operations and to facilitate the rapid execution of Project 2022, a number of organisational changes have been put into effect.


With all operations having transitioned into steady state operational performance, the Company has implemented a flatter management structure, with the mines now reporting directly to the Chief Executive. The restructuring has resulted in the removal of the Chief Operating Officer role and therefore, through mutual agreement, Luctor Roode is leaving the Company to pursue other interests, with immediate effect.


Richard Duffy, Chief Executive, commented:

"Luctor has been instrumental in leading the operations' transition to steady state operational performance following a long period of capital investment across our mines and I would like to thank him for his significant contribution to the Company over the last eight years. He leaves Petra at a time when the Company is delivering solid and consistent production results across the operations and I am certain that he will be successful in his future endeavours. We wish him well."


~ Ends ~


For further information, please contact:


Petra Diamonds, London                                         Telephone: +44 20 7494 8203

Cathy Malins

Des Kilalea     

Marianna Bowes                                               


Buchanan                                                                  Telephone: +44 20 7466 5000

(PR Adviser)

Bobby Morse

Ariadna Peretz                                                  


About Petra Diamonds Limited

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). Petra also conducts a limited exploration programme in Botswana and South Africa.




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. 250 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. 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.


Petra is quoted with a premium listing on the Main Market of the London Stock Exchange under the ticker 'PDL' and is a constituent of the FTSE4Good Index. The Company's US$650 million loan notes due in 2022 are listed on the Global Exchange market of the Irish Stock Exchange. For more information, visit




This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit
London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.