Firestone Diamonds To Commission New Plant
Monday, June 15, 2009
Speaking at the Botswana Resource Sector Conference at the GICC last Wednesday, the company's Chief Geologist, Polite Khutjwe, said it was putting all its resources behind its BK11 diamond project in order to begin production on schedule in June next year.
He said Firestone is also ready to move one of the plants from a previous project in South Africa to Botswana. The plant, which has a production capacity of 1.5 metric tonnes per annum, has operating costs of $6.50 per tonne.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...