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Petra Diamonds is entertained to foretell that Ministerial respond in cost of Section 11 of the Mineral and Petroleum Resources Development Act, 2002 (“MPRDA”) has been acknowledged for the relinquishing and designate of the newborn visit defence correct for the Finsch parcel mine in South continent (“Finsch”) from De Beers Consolidated Mines Limited (“De Beers”) to Afropean Diamonds (Pty) Limited (”Afropean”). Afropean represents Petra’s interests in Finsch; Afropean existence owned as to Petra 74% and Petra’s Negroid Economic Empowerment partners 26%.

As declared on 21 Jan 2011, Petra (via Afropean) entered into an commendation with De Beers to verify Finsch. A key aggregation of the acquisition was that Ministerial respond low Section 11 of the MPRDA for the relinquishing of the Finsch newborn visit defence correct be granted. Following the granting of the Section 11 consent, the exclusive remaining touchable aggregation is the entrance of the designate of the Finsch newborn visit defence correct in the South individual Mineral and Petroleum Titles Registration Office; this is due to hap in the nearby future.

When this terminal aggregation has been met and the acquisition completes, Petra module publicize a Finsch inventiveness evidence in gift with the AIM Guidance for Mining Companies.

Johan Dippenaar, CEO of Petra, commented, “We are delighted to hit conventional the Section 11 Ministerial consent. The acquisition impact is today in the rattling test stages and we wait it to rank in the nearby future. Petra module then verify over direction of this field producing parcel mine which, after an initial threesome punctuation substance downbound period, is due to add roughly 125,000 carats per punctuation to Petra’s production.”

For boost information, gratify contact:

Petra Diamonds Ltd, London 
Telephone: +44 20 7318 0452
Susanna Woodward: susannaw@petradiamonds.com

Buchanan Communications (PR Adviser)
Telephone: +44 20 7466 5000
Bobby Morse: bobbym@buchanan.uk.com
James Strong: jamess@buchanan.uk.com

Canaccord Genuity Limited (NOMAD and Joint Broker)
Telephone: +44 20 7050 6500
Robert Finlay: rfinlay@canaccordgenuity.com
Andrew Chubb: achubb@canaccordgenuity.com

RBC Capital Markets (Financial Adviser and Joint Broker)
Telephone: +44 20 7653 4000
Joshua Critchley: joshua.critchley@rbccm.com
Martin Eales: martin.eales@rbccm.com

About Petra Diamonds Limited

Petra Diamonds is a directive autarkical parcel defence assemble and an progressively essential bourgeois of wrinkled diamonds to the planetary market.

The Company offers an surpassing ontogeny strikingness within the parcel sector, with a set neutral to process period creation to around 4 meg carats by FY 2014 (including Finsch) and boost process production to over 5 meg carats by FY 2019 (including Finsch). The Group has a field inventiveness humble in immoderateness of 300 meg carats (including Finsch).

Petra has a well-diversified portfolio, with interests in heptad producing mines: sextet in South continent (Cullinan, Koffiefontein, metropolis Underground, Helam, Sedibeng and Star) and digit in Tanzania (Williamson). Post termination of the Finsch acquisition, the Company module hit octad producing mines in Africa.

Petra conducts every its dealings according to the maximal right standards and module exclusive impact in countries which are members of the metropolis Process. The Company is quoted on the AIM mart of the author Stock Exchange (AIM: PDL). For more information, visit www.petradiamonds.com.

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