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Engaging with stakeholders

Review

The relationships Petra Diamonds maintains with its stakeholders are of the utmost importance to the effective running – and indeed the success – of the Company. These relationships are managed proactively and with due regard for the authorities involved and the systems in place.

Stakeholder identification

The key stakeholders identified by the Company include:

  • community leaders and municipal management;
  • community members and project beneficiaries;
  • community organisations, both non-governmental and non-profit;
  • employees;
  • trade unions;
  • shareholders and the investment community; and
  • governments and state institutions.

With regards to local community stakeholders, Petra employs integrated development plans (“IDP”), and the community needs and challenges listed within them, as the basis on which to identify the stakeholders with which it engages. Local, provincial and national government priorities also assist and supplement this identification process, as do relevant sector departments.

Moreover, the government stakeholders with which Petra engages include the following:

  • the Department of Mineral Resources in South Africa;
  • the Ministry of Energy and Minerals in Tanzania;
  • the Ministry of Minerals, Energy and Water Resources in Botswana;
  • the Government Diamond Valuators in South Africa, who are responsible for verifying that Petra’s diamonds are sold at fair market value;
  • the State Diamond Trader in South Africa, the state institute capable of electing to purchase 10% of Petra’s total production; and
  • the Diamond Export and Exchange Centre in South Africa, the state institute that facilitates all tender processes.

The engagement process

Petra’s engagement with the local communities surrounding its operations is a continuous process, designed to ensure the development of successful partnerships and the sustainable implementation of projects. Meetings regarding established projects are conducted on a monthly basis or as the need arises.

The maintenance of the Company’s relationships with sector departments is also an ongoing process and falls under the auspices of the Steering Committee which meets monthly.

The Company has personnel dedicated to stakeholder relations who facilitate the stakeholder engagement process through applicable forums and structures.

Petra’s commitment to investor relations is outlined in the Corporate Governance report under the section entitled ‘Communication with shareholders & continuous disclosure’.

Key areas

The key areas that have been identified through Petra’s stakeholder engagement relationships include those issues outlined below:

  • Job creation

    Petra’s response to the national and local issue of job creation is to source local labour when vacancies are advertised. Job creation also forms part of each operation’s social and labour plan (“SLP”). In particular, the Company aims to support labour-intensive projects that have the potential to grow into self-sustaining entities.

  • Poverty alleviation

    Poverty alleviation is very important not only in South Africa, but across the African continent. The sourcing of local labour aids this matter, as does the CSI projects undertaken by the Company. These initiatives frequently focus on poverty alleviation, and on the related issues of food security and education.

  • Skills development

    ABET Programmes, learnerships and internship programmes run by the Company include members of the community as a means of addressing the development of skills, as does the Company’s bursary scheme and the portable skills development programmes in place at various operations.

GRI

The following GRI indicators are covered in this section:

Commitments to external initiatives
4.12
Externally developed charters, principles and other initiatives endorsed
4.13
Memberships of associations and advocacy bodies
Stakeholder engagement
4.14
List of stakeholders
4.15
Basis of identification of stakeholders
4.16
Approaches to stakeholder engagement
4.17
Key topics and concerns of stakeholders