18 Oct 2012 13:00
18 October 2012
Firestone Diamonds plc
Opening of a new tender facility at the Antwerp World Diamond Centre, Belgium
Firestone Diamonds plc ("Firestone" or the "Company") (ticker: AIM: FDI), the AIM-quoted diamond mining and exploration company and First Element Diamond Services ("First Element"), are pleased to announce the opening of a new tender facility at the Antwerp World Diamond Centre ("AWDC"), Belgium, by ADWC and De Antwerpsche Diamantkring.
The Antwerp Diamond Tender Facility ("ATF") is a fully-fledged, 'triple A' facility that enables companies to tender their goods in the heart of the Antwerp diamond district. The new service was officially opened by Antwerp's diamond sector Alderman, Ludo Van Campenhout, and was attended by representatives from Firestone management team including Lucio Genovese, Chairman.
Firestone has worked closely with the ADWC, De Antwerpsche Diamantkring and First Element over the past few months in developing this facility. The Company is hopeful that the facility will provide a platform to accommodate the increased production of the Company's Liqhobong Project once the Main Treatment Plant is fully operational.
Tim Wilkes, Chief Executive of Firestone Diamonds: "The opening of the new tender facility at the AWDC is very exciting and will provide mining companies with a world class independent facility to sell its diamonds in what is one of the premier diamond buying centres of the industry. Firestone and First Element have worked very hard with the ADWC and De Antwerpsche Diamantkring to develop this facility and we look forward to developing the relationship."
Lucio Genovese, Non-executive Chairman of Firestone Diamonds: "I would like to thank both the AWDC and First Element for their tremendous effort and speed in establishing a world class tendering facility. What was an idea in June 2012 has become a reality in October. I believe that this facility will become a great success and be of benefit to the industry participants. The AWDC and De Antwerpsche Diamantkring have taken advantage of an opportunity in the market place to incentivise mining companies to offer their production via a fully independent tendering facility in Antwerp. We believe that this is history in the making."
For more information contact:
Tim Wilkes, Firestone Diamonds +27 (79)8719686/+44 20 8741 7810
Rory Scott, Mirabaud Securities (Broker) +44 20 7878 3360
Alex Wright, N+1 Brewin (Nominated Adviser) +44 20 3201 3710
Jos Simson / Emily Fenton, Tavistock Communications +44 20 9203 150/+44 7899 870 450
Background information on Firestone Diamonds:
Firestone Diamonds plc is an international diamond mining and exploration company with operations focused on Lesotho and Botswana. Firestone currently operates the Liqhobong Mine in Lesotho and is also one of the largest holder of mineral rights in Botswana's diamondiferous kimberlite fields, controlling approximately 5,000 square kilometres including prospecting licenses around the major Orapa mine, as well as the entire Kokong and Tsabong kimberlite fields. In addition to Liqhobong and BK11, Firestone has 108 kimberlites in its portfolio, of which 30 have been proven to be diamondiferous to date.
Lesotho is emerging as one of Africa's significant new diamond producers, and hosts Gem Diamonds' Letseng Mine, Firestone's Liqhobong Mine as well as Namakwa Diamonds' Kao Mine and the Mothae development project.