Firestone puts Boteti diamond mine on the market

Wednesday, October 09, 2013

Up for sale: Firestone is searching for buyers for the mothballed BK11 mine

Firestone Diamonds has put its suspended BK11 diamond mine on the market for possible full or partial disposal, in hopes of recovering all or part of the operation's carrying value of 10.2 million British Pounds (P142 million).

The British developer suspended operations at BK11 in the Boteti sub-district last February citing operational challenges and weak market demand for the precious stones. The move resulted in the retrenchment of 143 workers, with 15 being retained for care and maintenance activities.

Last Friday, Firestone executives said various costs associated with the mothballed mine totalled 2.4 million Pounds (P33.4 million) in the year ended 30 June 2012.

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Firestone puts Boteti diamond mine on the market

Firestone Diamonds has put its suspended BK11 diamond mine on the market for possible full or partial disposal, in hopes of recovering all or part of the operation's carrying value of 10.2 million British Pounds (P142 million).

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