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Firestone Diamonds revises Liqhobong mine plan to yield better results

By: Megan van Wyngaardt     17th January 2018 Aim-listed Firestone Diamonds, which sold 156 942 ct of diamonds recovered at its Liqhobong mine, in Lesotho, in the quarter ended December 31, has adopted a revised mine plan to increase cash flow in the short term, while resolving issues that affect the value of recovered diamonds. Diamonds... 

Firestone extends sales agreement of BK11 asset

By: Megan van Wyngaardt     20th December 2017 Lesotho-focused Firestone Diamonds has agreed to extend the option period granted to Amulet Diamond Corporation to purchase the Aim-listed company BK11 asset until December, 31, 2018. BK11 is a diamond asset in Botswana, currently on care and maintenance. 

Stornoway upbeat on possible solution to lower Renard diamond breakage

By: Henry Lazenby     2nd October 2017 Ongoing diamond breakage in the Renard process plant is reducing the proportion of larger diamonds available for sale and dimming revenue prospects for Quebec-focused miner Stornoway Diamond Corp, at a time when market sentiment for Renard’s precious gems is on the rise. However, president, CEO... 

Diamond stocks are crashing this year, but gem prices aren't

By: Bloomberg     2nd October 2017 It’s been a surprisingly ugly year for most diamond companies. Shares of small producers, mainly focused on mines in southern Africa and Canada, have tumbled more than 30 percent during the past year and each company seems to be embroiled in its own mess. 

Lesotho diamond mine poised to start commercial production in June

By: Mia Breytenbach     14th April 2017 Aim-listed diamond development company Firestone Diamonds expects its Liqhobong diamond mine, in Lesotho, to reach commercial production at the end of June. Commissioning of the mine started in October 2016, with mine construction completed on time and within the $185.4-million budget. In a... 

Specialist supplies 20 drives to Liqhobong mine

By: Kimberley Smuts     20th January 2017 Drive engineering specialist SEW-Eurodrive has successfully filled an order for the delivery of 20 drive systems and a gear motor from its X series range for the newly constructed Liqhobong diamond mine, in Lesotho. The drives and gear motor were installed for a conveyor application.... 

Firestone Diamonds’ Liqhobong crosses 72% construction completion

By: Natasha Odendaal     14th April 2016 Aim-listed diamond development company Firestone Diamonds is on track for fourth-quarter initial production from its Liqhobong diamond mine, in Lesotho, with 72% of construction completed by the end of March. The project was also within the original $185.4-million budget, with 70%, equating to... 

Firestone mulls extension to Tango payment date for Botswana mine

By: Natalie Greve     2nd October 2015 Tango Mining has requested an extension to the due date of a $300 000 deposit owed to Lesotho-based diamond development company Firestone Diamonds for the acquisition of its BK11 mine, in Botswana. This after the Canadian diversified junior missed the September 30 deadline by which it had agreed... 

Firestone signs debt facility with RCF

By: Megan van Wyngaardt     24th April 2015 Aim-listed Firestone Diamonds has signed a $15-million standby debt facility with mining-focused private equity firm Resource Capital Fund (RCF) to satisfy one of the remaining conditions to the drawdown of its Absa debt facility, it told shareholders on Thursday. The purpose of the standby debt... 

Creamer Media publishes African Mining Roundup for September 2014 research report

     22nd September 2014 This month’s report includes details of project developer Ivanhoe Mines’ appointment of financial advisers to conduct a strategic review of its Kamoa and Kipushi base metals project, in the Democratic Republic of Congo; the granting a mining licence to a joint venture between Zanaga Iron Ore... 

Firestone starts Botswana assets disposal process

By: Leandi Kolver     14th August 2014 Diamond development company Firestone Diamonds has started the disposal process for its Botswana assets. The assets, which would be sold through a competitive disposal process to be managed by South Africa-based corporate finance adviser Questco, included the BK11 mine, which had been placed on... 

Firestone delists from Botswana exchange

By: Natasha Odendaal     3rd April 2014 Diamond development company Firestone Diamonds on Thursday exited trade on the Botswana Stock Exchange (BSE) after the completion of its share sale facility on March 28. The Aim-listed group shifted its focus to its Lesotho assets after idling BK11 mine, in Botswana, and initiated the delisting... 

Firestone appoints former De Beers man to head up Lesotho mine development

By: Natalie Greve     27th February 2014 Aim-quoted diamond development company Firestone Diamonds has appointed Glenn Black as chief project officer for the implementation of the company’s fully-funded Liqhobong diamond mine, in the Lesotho highlands. Black would join the Firestone senior management team with 40 years' experience in... 

Firestone secures additional Liqhobong treatment plant funding

By: Leandi Kolver     15th January 2014 Aim-listed diamond development company Firestone Diamonds on Wednesday announced that it had finalised the principle terms of a further $140-million funding package to build and commission the main treatment plant at its flagship Liqhobong diamond mine, in Lesotho.  

Firestone secures $82.4m project debt finance for Lesotho diamond project

By: Leandi Kolver     25th November 2013 Aim-listed diamond development company Firestone Diamonds on Monday announced that Absa Bank had received approval from its credit committee to provide Firestone’s 75%-owned subsidiary Liqhobong Mining Development Company (LMDC) up to $82.4-million in debt finance. LMDC owns 100% of the Liqhobong... 

Diamond tenders yield $5.1m in revenue for Firestone Diamonds

By: Natalie Greve     7th May 2013 Aim-quoted diamond mining and exploration company Firestone Diamonds sold 55 950 ct of diamonds in two diamond tenders in February and April, realising revenues of some $5.1-million. The average price per carat realised at the tenders, which were held at the independently operated Antwerp World... 

Firestone Diamonds increases production

By: Natasha Odendaal     28th March 2013 London-listed diamond mining and development company Firestone Diamonds on Thursday reported a rise in diamond output from its flagship Liqhobong mine, in Lesotho. The mine produced 72 833 ct, at an average grade of 24.8 ct per hundred tons (cpht) during the six months to December, up from the... 

Firestone Diamonds intensifies focus on Lesotho mine

By: Natasha Odendaal     13th November 2012 As London-listed diamond mining and development company Firestone Diamonds emerged from a restructure, the company is intensifying its focus on its flagship Liqhobong mine, in Lesotho. Chairperson Lucio Genovese, who on Tuesday reaffirmed the group’s aim of a one-million-carat-a-year output from... 

Lesotho mine to produce 1.2m carats a year – Firestone

By: Megan van Wyngaardt     25th October 2012 Aim-listed diamond mining and exploration company Firestone Diamonds could recover 1.2-million tons a year from a new openpit mine in Lesotho, a definitive feasibility study has shown. The company said production at Liqhobong could start in 2015 and that the mine would operate for 15 years. 

Firestone recovers rare diamonds at Lesotho mine 

     16th October 2012 Aim-listed diamond mining and exploration company Firestone Diamonds on Tuesday said a small type 2B blue diamond and 28 type 2A diamonds have been recovered at its flagship Liqhobong mine, in Lesotho. Firestone’s independent diamond valuation consultants in Gaborone, Botswana, and Antwerp, in... 

Firestone says diamond quality improving at Lesotho plant

By: Megan van Wyngaardt     8th October 2012 Aim-listed diamond mining and exploration company Firestone Diamonds CEO Tim Wilkes on Monday reported “encouraging” progress at its Liqhobong mine pilot plant, after overcoming technical and weather challenges. “Good progress was made in improving the quality and value of diamonds recovered at... 

Firestone Diamonds says latest tender results ‘encouraging’

By: Idéle Esterhuizen     25th July 2012 Aim-listed mining and exploration company Firestone Diamonds, which owns the Liqhobong mine, in Lesotho, said on Wednesday it had achieved a significantly higher per carat price at its latest dual tender in Gaborone and Antwerp. Describing the results of the June tender as “encouraging”, CEO Tim... 

Firestone finds three large diamonds at Lesotho mine

By: Idéle Esterhuizen     14th May 2012 Aim-listed diamond mining and exploration company Firestone Diamonds has recovered three large stones at its Liqhobong mine, in Lesotho, including an unbroken 74 ct light yellow diamond. The 74 ct diamond, found in April, is the largest recovered at Liqhobong to date, and followed the recovery... 

Botswana becomes State diamond trader

By: Nomvelo Buthelezi     12th March 2012 The government of Botswana has established a State diamond trading company that will be responsible for the purchasing, selling and marketing of the State’s portion of Debswana production, Botswana’s daily newspaper Mmegi reports. Mining Weekly Online reported in September that the Botswana... 

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