London-based diamond mining and exploration company Firestone owns 75% stake in Liqhobong, while the Government of Lesotho owns the remaining 25%.
The feasibility study projects the annual production at the mine at 1.2 million carats, starting from 2015 over a 15-year open pit mining. The current indicated and inferred resources are 89 million tonnes including an estimated 29 million carats.
Total capital expenditure for the plant and associated infrastructure is estimated at $167m.
Firestone CEO Tim Wilkes said that the positive feasibility results reinforced the diamond project’s robustness.
"There could also be considerable upside from the recovery of larger special diamonds that have been catered for in the design of the new treatment plant. Our project is also expected to have a very positive impact for Lesotho, both from a revenue and employment perspective.
"Firestone is committed to its strategy of becoming a mid-tier diamond producer of over 1 million carats and I look forward to realising the significant potential that exists at Liqhobong," Wilkes added.
The processing plant and the related infrastructure of the mine are expected to be commissioned in the second half of 2015.
