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Firestone Diamonds Plans First Sale in January

Jul 20, 2016 6:28 AM   By Rapaport News
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RAPAPORT... Firestone Diamonds said it expects to host its first sale of rough in January as construction at the Liqhobong mine in Lesotho continues ahead of schedule.

Development of the mine was 85 percent complete at the end of June, ahead of a revised target of 81 percent at that time, the company said. Production is expected to come on stream in the fourth quarter.

The mine will take at least six months to reach full capacity of 1 million carats per year and is expected to yield between 380,000 and 450,000 carats in the fiscal year ending June 30.

Initial sales will come from the treated lower-grade ore currently available at the plant rather than run-of-mine production. Firestone is planning two sales per quarter which will be held in Antwerp, it said.
Tags: diamonds, Firestone Diamonds, Lesotho, Liqhobong, mining, Rapaport News
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