Firestone poised to become a bigger diamond producer

Friday, November 26, 2010

Botswana's newest diamond miner Firestone Diamonds published its preliminary results this week in which it announced reduced full year losses and said it was confident of reaching the target of producing 1m carats per annum by 2014.

The group, which started production at its BK11 mine in Orapa four months ago, said losses before tax narrowed to P25 million (£2.4m) for the year ended 30 June 2010 from a loss of P114 million (£10.8m) a year earlier.

Revenue fell to £3,000 from £4m earlier.

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