Petra Diamonds Limited Sustainability Report 201217STRATEGY AND GOVERNANCEStrategy and GovernanceCase study: Petra and IFCPetra and IFCPetra is proud to count IFC as a key financing partner to the Group. IFC's support is an important and independent validation of the quality of Petra's asset base and its strong management team.Petra is proud to count IFC as a key financing partner to the Group. IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector. Its objective is to help developing countries achieve sustainable growth by financing investment and mobilising capital in the international financial markets, therefore providing opportunities for people to escape poverty and improve their lives. IFC's first financial commitment to Petra focused on providing financing to the Williamson mine in Tanzania, as recognition of the important socio-economic benefits that this operation brings to its local community. After carrying out a detailed due diligence process, IFC agreed to provide funding of US$40 million to Petra in 2010, marking its first time providing financing to a diamond mining group.Since this time, the relationship between Petra and IFC has continued to develop and strengthen. As IFC has become more familiar with the wider Petra Group, it has recognised the important contributions that each of the Company's projects make to their local communities. In November 2012, IFC participated in a consortium of banks to provide new debt facilities to the Group of ca. US$244 million, of which US$60 million were provided by IFC.In South Africa, Petra has acquired four major kimberlite mines (Finsch, Cullinan, Koffiefontein and Kimberley Underground), which could otherwise have been closed down, and is providing long-term security to the mines' employees and their dependents. Petra has extensive local community projects in place across its South African operations, with a focus on poverty alleviation, job creation and skills development.In Tanzania, Petra's Williamson mine plays a vital role in terms of supporting the Mwadui community, including providing potable water to the local township. The mine has a long legacy of corporate social responsibility ever since its inception in 1940. Amongst its many valued contributions are the Mwadui Hospital, which provides comprehensive medical services to employees and their families free of charge, and the Mwadui primary school, which provides free education and is considered one of the top schools in the country.Commenting on the partnership, Tom Butler, IFC Global Head of Mining, said, "Petra Diamonds is committed to working with local communities and implementing projects that follow best practice environmental and social standards. We are pleased to be able to support the company in its African expansion plans." Commenting on the relationship with IFC, Johan Dippenaar, Petra Diamonds' CEO, said, "IFC's continued support endorses the quality of our asset base, as well as our strong commitment to corporate social responsibility. Our operations clearly demonstrate the positive role that diamond mining can play in terms of development in Africa."The Mwadui primary school is owned and operated by Williamson and provides free education to 460 learners
Petra Diamonds Limited Sustainability Report 201218HEALTH AND SAFETY" The safety of all employees is our number one priority"