Petra Diamonds Regulatory News (PDL)

22 Apr 2008 07:01

Petra Diamonds Ld22 April 2008 22 April 2008 Petra Diamonds Limited Appointment of BMO Capital Markets as Joint Broker Petra Diamonds Limited ("Petra" or "the Company"), the international diamondmining group, announces the appointment of BMO Capital Markets as Joint Brokerto the Company with immediate effect. This appointment is a further step in the development of Petra's corporatestrategy as the Company seeks to widen and diversify its investor base. BMO Capital Markets is one of the leading investment banks operating in theglobal metals and mining sector. BMO Capital Markets is a member of BMOFinancial Group (TSX, NYSE: BMO), one of the largest diversified financialservices providers in North America with total assets of US$375 billion and morethan 36,000 employees. BMO Capital Markets is a member of the following global stock exchanges: AIM andthe London Stock Exchange, the Toronto Stock Exchange, the TSX Venture Exchange,NYSE, NASDAQ and the American Stock Exchange. Collins Stewart Europe Limited is Nominated Adviser and Joint Broker to Petra. For further information, please contact:Cathy Malins Telephone: +44 (0) 20 7493 7671Petra Diamonds, London Julian Walker / Harriet Pask Telephone: +44 (0) 20 7357 9477Hogarth Partnership Limited Adrian Hadden Telephone: +44 (0) 20 7523 8000Collins Stewart, London William Smith Telephone: +44 (0) 20 7664 8120BMO Capital Markets, London Ends About Petra Diamonds Petra Diamonds is an international diamond mining group with a balancedportfolio combining major producing mines, world class exploration assets and acutting and polishing business. With operations in South Africa, Angola, Botswana and Sierra Leone, Petra'sobjective remains to develop its stature as a leading diamond producer in all ofthe countries in which it operates. In South Africa, Petra has four producingmines and recently reached agreements to acquire a further two mines from DeBeers (Cullinan and Kimberley Underground). The Company is on track to increase its annual production from 180,000 carats inthe year to June 2007 to over 400,000 carats in the year to June 2009 and istargeting annual production of over 1 million carats thereafter. Complementing the Group's production is an exploration and development portfoliospread across some of the world's most prospective diamond fields. In Angola,Petra is developing its world class Alto Cuilo and neighbouring Luangue projectsin two separate joint ventures with BHP Billiton. In Botswana, Petra hasestablished the largest exploration holding in the country, where it believesthat modern exploration techniques will hold the key to the discovery of new,major kimberlites. In Sierra Leone, Petra is developing a fissure operation andtest work to date indicates the potential for economic operations. The Petra group now employs some 3,000 people in Africa and over the last 10years the Company has developed a range of social initiatives which continue tomake a meaningful impact upon the lives of employees and surroundingcommunities. Petra's focus remains upon sustainable development, via educationalprogrammes and skills transfer, to ensure a broad based approach with a lastinglegacy, and all operations are carried out with the highest regard for theenvironment according to best practice. For further information, please visit www.petradiamonds.com This information is provided by RNS The company news service from the London Stock Exchange