JOHANNESBURG (miningweekly.com) – Diamond-miner De Beers said on Thursday that Barend Petersen had been appointed as the acting CEO of De Beers Consolidated Mines (DBCM).

Petersen succeeded David Noko who stepped down at the end of March.

DBCM chairperson Nicky Oppenheimer said that the company and its shareholders were delighted that Petersen had agreed to lead DBCM into the next stage of its evolution.

He added that having Petersen join the company as CEO from the DBCM empowerment shareholder Ponahalo Investment Holdings, brought with it new insights and was another first for De Beers.

Petersen said that DBCM had successfully weathered the global recession and was now in a position where it could meet the new challenges it was faced with.

De Beers Group CEO Gareth Penny said that Petersen joined the company as CEO at an important time as the demand for diamonds appeared to be gradually recovering.

Petersen said that he intended to do what he could to strengthen the position of the company in South Africa and to take advantage of the recovery as it continued to unfold.

"We are embarking on the next stage of the strategic journey of this iconic company. We will continue to improve on our efficiencies in both financial and production terms, containing costs while increasing production to meet the rising demand for diamonds. We recognise that the strong local currency adds rigour to the challenges facing management. The reality of the strong Rand is one we must manage in order to succeed in achieving our business sustainability strategy, which we are currently engaged in developing."

In addition to his appointment as CEO of DBCM, Petersen also heads up the South African mining interests of the De Beers Family of Companies.

Petersen was first appointed to DBCM's board in 2002.

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