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Diamonds at Tenders
Let’s Set Our Sights on the Auctions
De Beers’ first-half earnings highlighted the many challenges facing the diamond trade. But beyond the sharp declines the mining company suffered, CEO Bruce Cleaver and chief financial officer Nimesh Patel were...
Rough Markets Aug 07, 2019 Avi Krawitz
Firestone
Small-Stone Slump Hits Firestone Revenue
Firestone Diamonds saw a decline in sales during its fiscal fourth quarter due to a drop in demand for small, lower-value diamonds that make up the bulk of its supply. The company reported sales of $12.7 million for...
Mining Jul 29, 2019 Rapaport News
Firestone
Firestone Finds Its Biggest Fancy Yellow
Firestone Diamonds has recovered a 54-carat, intense-fancy-yellowrough diamond at its Liqhobong mine in Lesotho, it reported Monday. The sawable stone, the largest of its color Firestone has unearthed, will go on sale at the company’s nexttender, which is due...
Mining Jul 08, 2019 Rapaport News
Firestone Liqhobong
Firestone Gets Bank Waiver After Prices Slide
ABSA Bank has granted Firestone Diamonds a waiver after adrop in small-diamond prices put the miner at risk of breaching its loan covenants. The terms of Firestone’s $82.4 million loan from ABSA included assumptions about...
Mining Jul 02, 2019 Rapaport News
Gahcho Kué
Analysts Expect Flat Rough Prices in 2019
Rough-diamond prices will remain sluggish this year as themarket challenges that arose in the second half of last year are set to continue,two investment banks have warned.Prices are likely to drop 1% to 2% in the first half of2019,...
Rough Markets Mar 28, 2019 Rapaport News
Firestone
Firestone Recovers 70ct. Rough
Firestone Diamonds has unearthed a 70-carat white rough stone fromits Liqhobong mine in Lesotho. “The 70-carat stone was recovered in the northern, low-gradepart of the pit, where the bulk of our mining will take place...
Mining Feb 12, 2019 Rapaport News
Firestone Q1
Firestone Unearths 326ct. Diamond
Firestone Diamonds has recovered a 326-carat, near-gem-qualityrough — the largest diamond the miner has found to date. The company unearthed the stone at its Liqhobong mine inLesotho in October, it reported last week. “[The 326-caratdiamond] provides...
Mining Nov 04, 2018 Rapaport News
Firestone Diamonds
Firestone Diamonds Slashes Annual Loss
Firestone Diamonds narrowed its annual loss by 91% amidhigher sales, and due to the absence of an impairment charge it incurred a yearago. The miner recorded a net loss of $14.2 million for the fiscalyear that ended June...
Mining Oct 04, 2018 Rapaport News
Firestone 150
Firestone Sees Strong Bigger-Stone Demand
Sales were strong at Firestone Diamonds in the fourth fiscalquarter amid robust demand for larger rough stones, the miner reported Monday. Proceeds from rough sales totaled $18.6 million during theperiod ending June...
Mining Jul 24, 2018 Rapaport News
Paul Bosma Firestone
Firestone Promotes Paul Bosma to CEO
Firestone Diamonds has appointed industry veteran Paul Bosmato succeed Stuart Brown as CEO from July 1, the company said Monday. Bosma (pictured) — who worked for De Beers for 14 years — joinedFirestone as mineral-resources manager in 2014,...
Mining May 14, 2018 Rapaport News
firestone
Firestone Diamonds Posts Inaugural Revenue
Firestone Diamonds recorded its first half-year revenue from the Liqhobongmine in Lesotho, the company said Tuesday. The miner saw sales of $28 million from the recovery of379,716 carats during the six months...
Mining Mar 29, 2018 Rapaport News
Firestone Liqhobong mine
Firestone Raising Cash After Price Drop
Firestone Diamonds is looking to raise $25 million (GBP 18.5million) to fund operations at its Liqhobong mine in Lesotho after weak roughprices drove the company to a loss and forced it to rethink its plan for theasset. Disappointing demand...
Mining Dec 04, 2017 Rapaport News
renard
Firestone Diamonds Beats Production Goal
FirestoneDiamonds slightly surpassed its output target at the Liqhobong mine in Lesotho inthe first fiscal quarter that ended September 30.The miner recovered 199,007 carats during the July-to-September period, compared to 204,000 carats in the...
Mining Oct 23, 2017 Rapaport News
Firestone Liqhobong
Firestone Rethinks Liqhobong Mine Plan
Firestone Diamonds is revising its mining plan and hasopened talks with its lender after recording disappointing prices at its Liqhobongmine in Lesotho. The company’s last two sales yielded just $69 per carat,compared with...
Mining Oct 03, 2017 Rapaport News
Firestone Liqhobong
Liqhobong Output Forecast Drops
Firestone Diamonds has lowered its production outlook forthe current financial year, aiming instead to improve long-term prospects atits Liqhobong mine in Lesotho.The company expects to produce 800,000 to 850,000 carats ofrough diamonds in the fiscal...
Mining Aug 09, 2017 Rapaport News
Firestone Liqhobong mine
Switch to Smaller Rough Dents Liqhobong Prices
The average selling price of rough diamonds from FirestoneDiamonds’ Liqhobong mine lagged behind the company’s forecast for the fourthfiscal quarter as the company recovered more lower-value stones.The miner sold 182,786 carats for...
Mining Jul 17, 2017 Joshua Freedman
Liqhobong
Firestone Ups Liqhobong Production Forecast
Firestone Diamonds has raised its production outlook for theLiqhobong mine to 360,000 carats for the fiscal year ending June 30.Operations at the Lesotho-based project, which the company initially predicted would produce 300,000...
Mining Jun 25, 2017 Rapaport News
Tango Firestone BK11 mine Botswana
Firestone Upbeat on Early Liqhobong Results
Firestone Diamonds continues to yield large special stones at its Liqhobong mine in Lesotho and expects to complete the “ramp up” phase of the operation in the coming months, the company announced Wednesday.The miner recovered 31 stones...
Mining Apr 26, 2017 Rapaport News
Firestone 110ct. rough diamond
Large Diamond Confirms Liqhobong Potential
Firestone Diamonds has extracted a 110-carat, light-yellowdiamond, which it says is the largest discovery to date at its Liqhobong mine in Lesotho.The gem-quality rough diamond surfaced during the ramp-upphase of the mine, where production began in October. Before...
Mining Apr 05, 2017 Rapaport News
Liqhobong
Currency Gains Bolster Firestone Earnings
Firestone Diamonds’ bottom line improved in the second half of 2016 as its Liqhobong mine operation in Lesotho benefited from the appreciation of the local currency against the U.S. dollar.Total comprehensive income stood at $9.7 million...
Mining Mar 29, 2017 Rapaport News
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