Firestone Signs Agreement With Lesotho Govt Over Liqhobong Mine

(IDEX Online) – Firestone Diamonds plc has signed a Revised Mining Lease Agreement with the Lesotho government regarding the Liqhobong Mining Development Company which is 75 percent by Firestone and 25 percent by the government.

The agreement is for an initial period ending on June 30, 2021 and can be renewed for two further periods of 10 years each.

Firestone described the agreement as "an important milestone for and the company looks forward to shortly commencing construction of the main treatment plant and supporting infrastructure at the Liqhobong diamond mine".

Stuart Brown, Chief Executive Officer of Firestone, commented: “I am pleased to announce that Firestone has concluded the terms for the Revised Mining Lease Agreement ... The negotiations have been extensive and we believe that the concluded agreement is positive for all parties.

"Importantly, the Revised Mining Lease Agreement enables the company to proceed with its fundraising, a considerable private investment in Lesotho, and commence construction of the Main Treatment Plant and supporting infrastructure at Liqhobong.

"The Revised Mining Lease Agreement provides a framework by which Firestone and the Lesotho government can realize its combined strategy and vision of building and commissioning the Main Treatment Plant at the Liqhobong diamond mine to benefit all stakeholders.”