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RAPAPORT reported that Firestone Diamonds (LSE:FDI) has postponed the launch of its Liqhobong mine in Lesotho to the fourth quarter of 2016.
RAPAPORT reported that Firestone Diamonds (LSE:FDI) has postponed the launch of its Liqhobong mine in Lesotho to the fourth quarter of 2016.
As quoted in the market news,
Previously, the company projected that construction of the new plant at the mine would be completed by the end of the first half of 2016 at a cost of $185.4 million. Firestone reported that $68.5 million (ZAR 830 million) had already been spent on the project as of May 31.
Stuart Brown, the CEO of Firestone, stated:
Despite adverse weather, increased overburden and the larger rocks encountered at the site, the project continues to make good progress.