Modern Mining August 2017

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August 2017 MODERN MINING7
MINING News
Firestone Diamonds, the AIM-quoted
diamond company, says it has recently
commenced a review of its current life
of mine plan in order to optimise mining
operations at its 75 %-owned Liqhobong
diamond mine in Lesotho. As a result, the
company is revising its production guid-
ance for the year to 30 June 2018 (FY 2018).
As part of this review, Firestone will be
extending the mining of the weathered
kimberlite over the coming months, in
order to access the lower areas of the pit
that have historically yielded higher grade
and higher value diamonds. The company
also plans to mine additional waste rock in
the coming year, in order to improve the
long-term mining operations.
As a result, although the overall life of
mine carats is not anticipated to change,
the company now expects to produce
between 800 000 and 850 000 carats in
FY 2018 (previously 1,0 million carats),
which is expected to impact revenues in
the current financial year. Further details
of the optimised mine plan will be
announced in CY Q4 2017.
Liqhobong was commissioned in the
Senior appointment by DRA Group Holdings
DRA Group Holdings has announced the
appointment of Pierre Julien as Executive
Vice President – Origination for the DRA
Group. In this role he will lead DRA’s
global origination team in identifying and
accessing new business channels, seek-
ing opportunities for growth into adjacent
sectors and developing innovative ways to
enhance DRA’s service offering to clients.
“We are excited to welcome Pierre to
our global team of professionals. In recent
months DRA conducted an extensive tal-
ent search and during this process Pierre
distinguished himself as a thought leader
with the skills and experience needed to
help us realise our global growth strategy,”
said Wray Carvelas, Chief Executive Officer
of DRA Group Holdings.
Julien has over 22 years of senior
level industry experience. Prior to join-
ing DRA, he served as Vice President,
Business Development and EPCM Partner
Management at Outotec, a global leader in
minerals andmetals processing technology.
He graduated from Haileybury School
of Mines and has an MBA from Queen’s
University in Kingston, Ontario. He is a
very well-respected member of the North
American mining community who holds
executive and board level roles with the
Canadian Mineral Processors Society and
the Canadian Institute of Mines, Metallurgy
& Petroleum (CIMM).
He will be based primarily in DRA’s
Toronto office. In the coming months, he
will commence a global tour of the business
to formally introduce himself to colleagues
and clients in all regions. 
Firestone revises production guidance for Liqhobong
second half of 2016. In the June quarter
of this year, it treated 925 000 tonnes to
recover 204 000 carats at a grade of 22 cpht
(including 54 special stones larger than 10,8
carats). Two scheduled diamond sales held
during the quarter in Antwerp saw 182 786
carats being sold, generating total sale pro-
ceeds of US$14,1 million and achieving an
The Liqhobong diamond mine in the highlands of Lesotho (photo: Firestone).
average price of US$77 per carat.
At the end of the quarter and financial
year, the project maintained its outstand-
ing health and safety record, having
reached over 4,4 million hours worked
without a single Lost Time Injury since
development commenced over three
years ago. 