Company Announcements
Directorate Change
09/02/2010
Namakwa Diamonds Limited ("Namakwa Diamonds" or the "Company"), the UK listed, vertically integrated diamond resource group, today announces the appointment of Dirk Johannes van Staden to the Board as an independent Non-Executive Director. Mr van Staden replaces John Coulter, who is stepping down to focus on his role at JP Morgan as Chief Executive Officer for sub-Saharan Africa. The Board would like to thank John for his support, advice and assistance in the growth and development of the Company since its IPO and we wish him continued success with JP Morgan.
Dirk joins the Board as an independent Non-Executive Director. Until his retirement in February 2009, Dirk was the Chief Financial Officer of Exxaro Resources (formerly Kumba Resources), a South African-based mining group, listed on the Johannesburg Stock Exchange, from its IPO in 2001.
Dirk will chair the Audit and Risk Committee and also sit on the Remuneration and Nomination Committee in place of Mr Coulter.
Commenting on his appointment Dirk van Staden said: "I am pleased to have been asked to join the Board of Namakwa Diamonds, which I already know has the potential and opportunity to become a leading resource company in the Southern African diamond sector. I look forward to helping the Company achieve its strategic goals."
Nico Kruger, Chief Executive Officer of Namakwa Diamonds, added: "Dirk's experience speaks for itself and I am delighted that he has agreed to join the Board. He undoubtedly shares our strategic vision and we look forward to benefitting from Dirk's fresh approach. John has played a significant role in the development of the Company since its IPO and I would like to take this opportunity to thank him for his commitment and work, and wish him well in his future career."
For further information please contact:
Namakwa Diamonds
Nico Kruger
Tel: +27 11 334 8886
Ryan Barrow
Tel: +44 7974 453 954
Tavistock Communications
Simon Hudson
Tel: +44 20 7920 3150
Nick Peters
Tel: +44 20 7920 3150
About Namakwa Diamonds:
Namakwa Diamonds is an integrated diamond resource group focused on diamond mining and beneficiation across Southern Africa. The Company has a diversified portfolio of diamond projects, which include distinct diamond resource target areas located in five African countries, namely: South Africa; the Democratic Republic of Congo; Lesotho; Namibia and Angola. The Company's projects are located within historically prospective geological environments.
Alluvial diamond deposits, including marine, have to date constituted the primary focus of the Company, but a recent kimberlite acquisition has been made in Lesotho which is consistent with Namakwa Diamonds' philosophy of a short resource delivery time and further opportunities will be considered if they can provide accretive value for shareholders.
The Company adds value to its mining operations with a well-established beneficiation division, developed over a 30-year period, with operations in South Africa, the Democratic Republic of Congo and Israel, allowing Namakwa Diamonds to capitalise on margins across the diamond value chain.
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