Firestone Diamonds today said its mining operations are expected to produce gross revenues of $31 million over four years with the excavation of some 158,000 carats.
The forecast follows the completion of an independent review of its mine development and operating plans for Bonte Koe mine in South Africa.
The group also said it expects to start construction of a gravel-treatment plant in November and added its mining operations are expected to start on schedule in the first half of next year.
"We believe that Bonte Koe has the potential to make a significant contribution to Firestone's profits and look forward to commencing mining operations at Bonte Koe in the first half of 2004, as previously indicated," said Firestone chief executive Mr Philip Kenny.
"We also expect our new operations at Bonte Koe to allow us to secure and exploit new opportunities in the Namaqualand region through African Star Minerals."
AFP