London, England — MININGREVIEW.COM — 15 March 2010 – Firestone Diamonds plc “’ an international diamond mining and exploration company with operations in Botswana and South Africa “’ has been selected by Namdeb Diamond Corporation (Namdeb) as the preferred supplier and operator for the dredge and floating treatment plant (FTP) project at its diamond mining operations on the south west coast of Namibia.
Namdeb is a joint venture between the government of Namibia and diamond mining giant De Beers, and is the world’s sixth-largest diamond producer by value.
In a statement issued here, Firestone explained that the FTP was one of the projects it had been evaluating to extend the life of its mining operations. It would have a target production capacity of 11.5 million tonnes per annum, and would be designed for a minimum 15-year life.
The statement added that Firestone had been selected as the preferred supplier for building the FTP for Namdeb, and for operating it on a toll treatment basis.
Firestone and the Namdeb FTP project team have commenced work on revising the project feasibility study to reflect current capital costs. The feasibility study is expected to be completed and presented to the Namdeb board later in 2010.
“Once approved the project will move into the execution phase, with a target date for commencement of production of 2012,” the statement revealed.
Firestone Diamonds CEO Philip Kenny commented: “Being selected by Namdeb is a reflection of the significant operating capability that Firestone has developed. This project follows the selection of Firestone by Debswana in 2009 for a toll treatment tailings processing project at the Jwaneng Mine in Botswana, and represents a further opportunity for the company to supplement cash flow from our own mining operations at BK11 in Botswana with cash flow from long-term, low risk toll treatment projects,” he added.