Firestone pleased with progress at BK11



02 September 2010 @ 08:10 am BST

Firestone Diamonds is pleased with progress at the BK11 mine in northern Botswana which is running 23% ahead of target.

CEO Philip Kenny said that reaching target earthmoving and production plant capacity ahead of schedule and only seven weeks after the start of production was an exceptional achievement.

He added: "We are also delighted that early diamond recoveries included a high value 13.74 carat stone.

"This recovery is very significant and confirms our expectation that larger diamonds will be recovered at BK11, and we believe that the average value of production from BK11 will be significantly higher than previously expected."

But the firm said work on the Jwaneng tailings project with Debswana Diamond Co had been delayed as Debswana was focusing on other projects.

But Firestone said the project remains strategically important for Debswana and work was expected to resume as soon as Debswana's other priorities allowed.

Story provided by StockMarketWire.com

© 2010 Stockmarketwire.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

    Click!
  • Rate this article:

Comments

Post Your Comment

*Name


Most Popular Markets

 
 
IBTimes © 2012 IBTimes Company. All Rights Reserved. Partners