Firestone plans First Diamond Tender In 4th Quarter

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Firestone Diamonds says it has reached production targets ahead of schedule and recovered a high quality diamond at its BK11 Mine, raising its expectations for the average value of output at the mine.

In a statement, the company says early recoveries included a 13.7-carat stone with value estimated at USD5 000 per carat.

Chief Executive Philip Kenny says the recovery is very significant and confirms management's expectation that larger diamonds will be recovered at BK11.

Editor's Comment
Micro-procurement maze demands urgent reform

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...

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