Former DeBeers exec. to lead Firestone Diamonds

Africa-focused diamond miner and developer Firestone Diamonds (LON:FDI), said Monday it has appointed former De Beers CFO, Stuart Brown, to lead the company as it holds talks with eventual investors for its Liqhobong mine in Lesotho.

Brown left his position as CFO at the world’s biggest diamond producer in 2011. He will become an executive director at Firestone next month before becoming CEO in December.

Firestone currently operates the pilot plant at Liqhobong and is in the process of developing the MTP with a forecasted output of one-million carats a year by 2015.

To date, has produced 274,577 carats since production began in September 2011. Diamonds form the plant achieved an average price of $86 per carat in the 12-month period that ended in May 2013.

Firestone’s board expects to discontinue the plant before the end of this year in order to prepare the mine for the development of the new plant.


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