De Beers Continues Management Shuffle

Mining giant De Beers announced today the Jonathan Oppenheimer, Managing Director of De Beers Consolidated Mines (DBCM), will move up to the Chairman’s Office in the second quarter of 2006. The group also announced the retirement of Group Finance Director.

He will be succeeded by David Noko, currently Operations Manager for DBCM’s Kimberley Mines.

Group Finance Director, Paddy Kell will retire in February 2006, after the year-end financial accounts for De Beers s.a. have been completed and published.

Kell will be replaced by current Head of Finance for De Beers Consolidated Mines, Stuart Brown. He will be retained as a consultant until the end of 2006 to ensure a smooth delegation of authority to Stuart Brown.

Other management changes announced today include the appointment of Kerwin Rana as David Noko’s successor. Rana will be responsible for managing and driving the Kimberley operation to greater levels of efficiency and profitability. Steven Dietrich will succeed Stuart Brown as DBCM Head Finance with immediate effect.

Jonathan Oppenheimer will remain Chairman of Element Six and Williamson Diamond Mine. He will also assume the chairmanship of De Beers Canada within the next year, and the diamond trading companies when their new structures are implemented.

De Beers Chairman, Nicky Oppenheimer said, “The appointment of three South African executives to key positions within the De Beers Group – and the historic announcement of David as the first black South African Managing Director of DBCM – is an illustration of our continued commitment to our country of origin.”