Firestone Diamonds orders diesel generators to restore power at Liqhobong mine

Writer, Stock Market Wire
Tuesday, October 15, 2019 - 14:35

Firestone Diamonds said its Liqhobong mine in Lesotho remained without sufficient power following outages reported more than a week ago.

The company said it had initiated contingency measures to restore power by alternative means within the coming weeks.

'In the meantime the company will continue to engage with both the Lesotho Electricity Compan and ESKOM, South Africa's power utility, to try to resolve the interruption of grid power to the mine,' it added.

Firestone Diamonds said it had placed an order to hire diesel generator units with which to run the mine's processing plant.

The units were scheduled to arrive on site by the end of October and be fully operational shortly thereafter, during early November.

The generators were expected to be used to generate power until grid power was restored from the Muela hydropower station, which the company had been informed would take place on 1 December.

Normal operating costs were expected to increase by the cost of renting the gensets and of the associated diesel consumption.

At 2:35pm: (LON:FDI) Firestone Diamonds PLC share price was -0.05p at 0.53p

Related content

Firestone Diamonds uses alternative power supply to resume production at Liqhobong mine

Firestone Diamonds said an alternative power supply had been implemented at its Liqhobong Diamond Mine, to help resume production in the absence of grid electricity...

Fri, 01/11/2019 - 09:51

Firestone Diamonds reports fall in revenue as diamond recoveries, sales decline

Firestone Diamonds reported a fall in revenue in its fiscal first-quarter as diamond recoveries and sales slipped as a subdued pricing backdrop continued to keep...

Wed, 23/10/2019 - 08:41

Power outage disrupts output at Firestone Diamonds mine in Leshotho

Firestone Diamonds said production had been disrupted at its 75%-owned Liqhobong nine in Lesotho due to power shortages.

The mine was supplied electricity from the...

Fri, 04/10/2019 - 13:21

Firestone Diamonds recovers 54-carat diamond from mine in Lesotho

Firestone Diamonds announced the recovery of a 54-carat intense fancy yellow, sawable diamond from its Liqhobong Mine in Lesotho.

The diamond would go on...

Mon, 08/07/2019 - 08:56

Firestone Diamonds unit gets waiver from ABSA Bank after covenant breach

Firestone Diamonds said its 75%-owned subsidiary Liqhobong Mining Development had a received a waiver on some of its bank covenants from lender ABSA Bank.


Mon, 01/07/2019 - 13:20