Sustainable Development Report2010

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Sustainability principles

Petra Diamonds recognises that its business and operations have an economic, social and environmental impact on a wide range of stakeholders. The Company also identifies that it has a responsibility to mitigate potential negative impacts and to initiate positive impacts that are sustainable after mining has ceased.

Petra’s vision for sustainable development is closely aligned with the principles advocated by the International Council of Metals and Mining (ICMM), and the ICMM's draft policy on sustainable development is currently under review.

Underpinning this vision are the following principles:

• Petra Diamonds will conduct itself according to the highest ethical and corporate governance standards, and is committed to conducting itself in a way that is mindful of the economic, social and environmental impacts on society.
• Petra is a fair employer, and treats its employees with respect and dignity. The Company will uphold the basic human rights of employees, contractors and community members.
• The safety and health of employees is a priority for the Company. In addition to appropriate risk management processes, the Company will ensure that strategies and systems, as well as training, are in place to ensure that working places are safe and that employees are equipped to work safely. Petra will encourage the active participation of employees and their representatives in safety and health issues.
• Petra places a great deal of emphasis on environmental stewardship throughout the life cycle of its operations – from exploration to closure. The Company will, as a minimum, comply with the environmental regulations in the countries in which it operates and will implement environmental management and auditing systems based on good practice.
• Petra believes in the responsible mining and sale of its diamonds. Petra is a signatory to the Kimberley Process, and as a legitimate diamond miner operating in South Africa and Tanzania, 100% of Petra’s production is fully traceable and conflict free.
• Petra has a strong commitment to local economic development and to having a positive impact on the social, economic and institutional development of its host communities. The Company is cognisant that poverty alleviation and local economic development are priorities in Africa. It is also aware that, as mining operations have finite lives, its contribution to its host communities needs to deliver sustainable initiatives. A key component to Petra’s approach is knowledge transfer, via educational programmes and training, to equip employees with a broad skills base.
• Petra will engage with stakeholders – employees and unions, shareholders, community members, representatives from government and regulators – in an open and transparent manner, and will voluntarily report on its objectives and performance in respect of sustainable development on a regular basis.

Petra reports annually on its sustainable development policies and practices and has adopted, as a basis for this reporting, the Global Reporting Initiative’s (GRI) G3 guidelines. The Company also supports the Kimberley Process and reports on its compliance with the broad-based socio-economic empowerment charter for the South African mining industry to the South African Department of Mineral Resources (DMR) on an annual basis at operations in compliance with its mining licences.