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Firestone Diamonds’ Liqhobong crosses 72% construction completion mark

22nd April 2016

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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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 $129.9-million, or R1.5-billion, of the revised capital budget of R2.1-billion having been spent by the end of the March quarter.

“Firestone has achieved another strong quarter of progress at Liqhobong . . . The last quarter saw favourable weather conditions at site and the granting of a number of work permits by the government of Lesotho, our 25% partner in the project, CEO Stuart Brown says.

With all significant civils and earthworks work completed in the preceding quarter, allowing for the erection of the main plant, a number of project items are either completed or at 98% completion, including the design, engineering and procurement, the residues storage facility starter wall and structural steel fabrication.

Edited by Martin Zhuwakinyu
Creamer Media Magazine Managing Editor

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