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Liqhobong Output Forecast Drops
Aug 9, 2017 4:00 AM
By Rapaport News
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RAPAPORT... Firestone Diamonds has lowered its production outlook for
the current financial year, aiming instead to improve long-term prospects at
its Liqhobong mine in Lesotho.
The company expects to produce 800,000 to 850,000 carats of
rough diamonds in the fiscal year ending June 2018, in contrast to an earlier
forecast of 1 million carats, it announced Tuesday. It also expects the change to
impact revenue for the year.
Following a review of operations at Liqhobong, where
production started last year, Firestone decided to focus on accessing the
lower areas of the pit that have historically contained higher-grade ore
and higher-value diamonds, it said. However, the company explained, it will have to work on extracting waste rock, resulting in lower recovery of
diamonds in the coming year.
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Tags:
Firestone, Firestone Diamonds, Lesotho, Liqhobong, Liqhobong mine, mining, Rapaport News, Rough Diamonds, Rough Production
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