Firestone Diamonds, announced yesterday March 27, that it produced 379, 716 carats of diamonds on its Liqhobong mine in Lesotho, during the first half of the ongoing financial year that began in July 2017.
While specifying that the mine’s commercial production started last July 1, the company indicated that it has processed a total of 1.9 million of ore in the period under review and discovered a 134 carat light yellow gem, the largest diamond recovered to date. The operating cost per ton was estimated at $11.97.
“In our first six months of full scale production at Liqhobong, processing rates were above expectations, while costs continued to remain below our targeted levels,” said Stuart Brown, the CEO.
Furthermore, the company recorded, over the same period, $26 million as revenues and operations generated $8.8 million.
At the end of the year, Firestone expects the mine to produce between 800, 000 and 850, 000 carats of diamonds.
The BoxCommerce–Mastercard Partnership introduces prepaid cards, giving SMEs instant access to e...
Togolese banks provided 16.2% of WAEMU cross-border credit by September 2025 Regional cross...
Circular migration is based on structured, value-added mobility between countries of origin and host...
President Tinubu approved incentives limited to the Bonga South West oil project. The project tar...
Africa’s trade deficit with China widened 64.5% to $102 billion in 2025 Chinese exports ...
The European Union finances the Kenya Cyber Resilience (KCR) project with 454 million Kenyan shillings ($3.5 million). Kenya detected 12.5 billion...
Zahid Group acquired 100% of Barloworld for 23 billion rand ($1.4 billion) through a consortium called Newco. The transaction triggered Barloworld’s...
Extractive sector surged 50.9%; manufacturing grew 3.5% on food, fuel gains Cumulative industrial activity up 11.7% by end-September 2025 Industrial...
With a young and fast-growing labor force, Africa records high participation rates. Understanding how working-age people engage in the labor market helps...
The Khomani Cultural Landscape is a cultural site located in northern South Africa, in the Northern Cape province, near the Kgalagadi Transfrontier Park....
Three African productions secured places among the 22 films competing for the Golden Bear at the 76th Berlin International Film Festival. Berlinale...