Petra Diamonds Limited Industrial Action in South Africa (1319R)
September 19 2017 - 2:16AM
UK Regulatory
TIDMPDL
RNS Number : 1319R
Petra Diamonds Limited
19 September 2017
This announcement contains inside information
19 September 2017 LSE: PDL
Petra Diamonds Limited
("Petra" or the "Company" or the "Group")
Labour Disruptions in South Africa
Further to the release of the Company's preliminary results
yesterday in which it noted that labour relations volatility could
be experienced prior to the finalisation of its new wage agreement
for its operations in South Africa, Petra confirms that since last
night it is experiencing labour disruption at its Finsch mine and
there is also disruption underway at its Kimberley Ekapa Mining JV
operations.
The Company is currently assessing the impact on both
operations. Although underground and surface mining have been
affected, plant treatment is continuing at near normal capacity at
both operations treating surface material and available
stockpiles.
Normal operations are continuing at Cullinan and
Koffiefontein.
The Company is in ongoing discussions with the National Union of
Mineworkers in order to resolve the situation and is closely
managing the situation to ensure the least possible impact on Group
production. Petra will update the market as the situation
unfolds.
Ends
For further information, please contact:
Petra Diamonds, London Telephone: +44 20 7494 8203
Cathy Malins cathy.malins@petradiamonds.com
Buchanan Telephone: +44 20 7466 5000
(PR Adviser)
Bobby Morse bobbym@buchanan.uk.com
Anna Michniewicz annam@buchanan.uk.com
About Petra Diamonds Limited
Petra Diamonds is a leading independent diamond mining group and
an increasingly important supplier of rough diamonds to the
international market. The Company has interests in five producing
operations: three underground mines in South Africa (Finsch,
Cullinan and Koffiefontein), the Kimberley Ekapa Mining joint
venture (including the Kimberley Underground mine and extensive
tailings retreatment operations) and one open pit mine in Tanzania
(Williamson). It also maintains an exploration programme in
Botswana and South Africa.
Petra has a core objective to steadily increase annual
production to 5.0 - 5.3 million from FY 2019 onwards. The Group has
a significant resource base in excess of 300 million carats.
Petra conducts all operations according to the highest ethical
standards and will only operate in countries which are members of
the Kimberley Process. 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. For more information,
visit www.petradiamonds.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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