Executive Summary

Firestone Diamonds plc is an international diamond mining and exploration company with operations in the Namaqualand region of South Africa, Botswana and the United States. Firestone has extensive interests in Botswana, which is the world's largest producer of diamonds, with annual production of approximately 30 million carats worth over $2.5 billion. Botswana is considered to be one of the best countries in the world to explore for kimberlite - the primary source rock for diamonds. Firestone's Mopipi, Orapa and Jwaneng projects are located close to the major Orapa and Jwaneng mines and are all being explored by De Beers in joint venture with Firestone. Firestone is also exploring for kimberlite in the US on the Laurentia craton, which extends into Canada, where it hosts a number of diamondiferous kimberlite deposits. Namaqualand, which is located on the west coast of South Africa, has been one of the world's largest alluvial diamond producing regions for the past 60 years, with total production to date estimated to be worth more than $3 billion. Firestone's mining operations in Namaqualand include the Bonte Koe, Avontuur and Oena Mines, all of which produce high quality alluvial diamonds, and a growing portfolio of early stage and advanced exploration projects, of which the Groen River Valley project, which is being explored by De Beers in joint venture with Firestone, is the most important.

 

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