Firestone's diamond mine comes on stream

Ecstatic Firestone CEO, Philip Kenny, announced that the Government of Botswana had granted the company's subsidiary a mining licence, enabling the commencement of commercial production.

The licence has been granted to Monak Venture, in which Firestone holds 90 percent equity. With this move, Firestone becomes the first diamond mine to open in Botswana after DiamonEx's Lerala Diamond Mine was commissioned in September 2008, though it closed in January 2009 owing to a collapse in diamond prices. The commencement of production at BK 11 is thus symbolic of the diamond industry's recovery from last year's recession.