Firestone Recovers Its Largest Ever Diamond
March 6, 2024BY: LEAH MEIROVICH
Firestone Diamonds has recovered a 215-carat rough from its Liqhobong mine in Lesotho, the largest high-quality stone to date from the deposit.
The company is currently offering the diamond through a competitive bidding tender, it said Wednesday. Prior to that, it will hold viewings in Antwerp and Dubai. Firestone owns 75% of Liqhobong, with the Lesotho government holding the remainder.
The miner has been struggling since shutting down for more than two years due to Covid-19. It restarted operations in October 2022. The company is now privately owned by Pacific Road Capital, which has an 84% share. In its last public report, issued in June, revenue for rough nearly doubled to $20.6 million for the third fiscal quarter that ended March 31, 2023, compared to the previous quarter. Sales volume increased 57% to 193,212 carats, while the average price grew 14% to $107 per carat.
SOURCE: RAPAPORT
Image credit: Firestone Diamonds