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Company News: Firestone Diamonds
Updated: 03 May 2011

Firestone Diamonds plc is an international diamond mining and exploration company with operations in Botswana and South Africa, which are the world's largest and fourth largest producers of diamonds, respectively, and the lowest cost producers among major diamond producing countries.

Firestone has extensive interests in Botswana, which produces over 34 million carats per annum, worth over $3.5 billion. Botswana is considered to be one of the top countries in the world to explore for kimberlite - the primary source rock for diamonds.

Firestone is the largest holder of exploration rights around the Orapa Mine, including the BK11 and BK16 evaluation projects, and around the Jwaneng mine. The company also holds exploration rights over the entire Tsabong kimberlite field in south-west Botswana, which is one of the largest diamondiferous kimberlite fields in the world and is viewed as the leading project for the Company. Exploration carried out to date has identified 81 kimberlites, of which 17 have been proven to be diamondiferous. Tsabong is noted for the exceptionally large size of many of its kimberlites, in particular the 180 hectare MK1 kimberlite, which is one of the largest known diamondiferous kimberlites.

Firestone has a highly qualified management team with extensive experience in the exploration, evaluation and development of diamond projects. Firestone is quoted on the Alternative Investment Market (AIM) of the London Stock Exchange and trades under the symbol FDI.L.

Business Category Exploration; Mining
Regions of Operation Central and East Africa; Southern Africa
Exchange Ticker FRDIF
 

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