Petra Diamonds, which has diamond mines in South Africa and Tanzania, appointed Lerato Molebatsi as an independent non-executive director effective 3 April 2023.
She had been the lead independent non-executive director of the South African Reserve Bank since 2019.
Molebatsi was also the chief executive of General Electric South Africa, part of the US's General Electric. “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…,” said Petra Diamonds non-executive chairperson Peter Hill.
Meanwhile, Octavia Matloa will leave the Petra Diamonds board at the end of June after serving as a non-executive director since 2014.
Petra Diamonds’ first-half revenue for the fiscal year 2023 eased to $212.1 million from $264.7 million, a year earlier.
The company’s guidance shows annual production increasing by about 1 million carats from 2.8 million carats in the fiscal year 2023 to between 3.6 million and 3.9 million carats in the fiscal year 2025.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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