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Our Strategy

Consistent delivery of our strategic targets

Through our strong and responsible leadership, we are investing in the expansion and optimisation of our world-class assets in order to deliver significantly increased production, revenue and cashflow in the years to come.

Underpinning our strategy is a focus on safety and sustainability, thereby driving value for all stakeholders.

Our Strategic Objectives:

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Work responsibly Committed to responsible development

How we achieve this:

  • Strive for a zero harm workplace
  • Foster a dynamic company culture in which employees are encouraged to fulfil their true potential
  • Develop strong relationships with our stakeholders to support our licence to operate
  • Protect and enhance our environment
  • Uphold the high value placed on diamonds
  • Strive to go beyond compliance by meeting and/or exceeding best practice

 

Consistent Delivery Focus on delivering steady-state operations that generate sustainable free cash flow

How we achieve this:

  • Effective implementation of Project 2022 to deliver US$150-200 million in net free cash flow over the next three years to address net debt
  • Prioritise ‘value’ over ‘volume’ production and achieve annual production targets
  • Ensure we have the right people and skills in place, including appropriate Board and management structures
  • Training and development of employees; empower operational management and employees
  • Commit the necessary long-term investment in order to sustain and extend the lives of our assets
  • Use new technology where appropriate to drive improvements

 

Drive optimisation Driving efficiencies and improvements across the business

How we achieve this:

  • Effective implementation of Project 2022 to drive efficiencies and improvements
  • Maximise throughput, maintain disciplined on-mine cost control and efficient overhead structure
  • Focus on capital efficiency and continue optimisation of portfolio and operating systems
  • Use new technology where appropriate to drive efficiencies

 

Underpinning our strategy:

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World-class assets

  • Focus on assets with potential for significant production, operating margin, diamond resources and remaining mine life
  • Assets with robust economics can withstand fluctuations in both diamond prices and the capital markets
  • Good infrastructure at local and national level supports our operations

Outstanding leadership

  • An industry-leading team with a consistent strategy, performance and track record
  • Deep understanding of our industry – Petra’s experience and knowledge of the specialist diamond market has helped shape the company’s strategy
  • Extensive in-house operational capabilities covering the full diamond mining spectrum – exploration, development, production, expansion, processing, sorting, marketing and sales – backed up by an effective corporate team
  • Appropriate and robust risk management framework
  • Effective and evolving governance policies in line with the growth of our business

Strategic Objectives