Modern Mining August 2017

MINING News

Firestone revises production guidance for Liqhobong

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

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. 

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. 

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.

Mining is here to stay.

But that doesn’t mean it has to stand still. Joy Global’s proven solutions and worldwide partnerships are helping customers achieve record-setting production levels and solving mining’s toughest challenges .

Joy Global (Africa) (Pty) Ltd, A BEE Level 3 Contributor Wadeville, Johannesburg, South Africa Tel: +27 11 872 4000 or info@joyglobal.com

JoyGlobal.com Joy Global, Joy, P&H and “Solving minings toughest challenges” are trademarks of Joy Global Inc. or one of its af liates. © 2016 Joy Global Inc. or one of its af liates.

August 2017  MODERN MINING  7