TIDMFDI

RNS Number : 8456O

Firestone Diamonds PLC

04 October 2019

4 October 2019

Firestone Diamonds plc

("Firestone" or the "Company")

Production disruption due to power fluctuations

The Company announces a production disruption at its 75% owned Liqhobong Mine in Lesotho due to intermittent power supply. The Liqhobong Mine is supplied electricity from the Muela Hydropower Station (MHS) which is owned by the Lesotho Electricity Company (LEC) and which forms part of the Lesotho Highlands Water Project Phase 1 Katse Dam.

The MHS commenced a two month maintenance shutdown on 1 October at which time ongoing supply was to be provided by Eskom, South Africa's power utility company. Since then, the mine experienced unexpected voltage fluctuations that caused the drives of the plant equipment to trip and as a result, operations have been severely disrupted. Management is addressing the issue urgently with the LEC and Eskom, and will provide further updates in due course.

For more information please visit: www.firestonediamonds.com or contact:

 
                                              +44 (0)20 3319 
 Firestone Diamonds plc                        1690 
 Paul Bosma 
 Grant Ferriman 
 
 
   Macquarie Capital (Europe) Limited 
   (Nomad and Broker) 
   Nick Stamp                                 +44 (0)20 3037 
   Alex Reynolds                               2000 
                                              +44 (0)20 7920 
 Tavistock (Public and Investor Relations)     3150 
 Jos Simson 
 Gareth Tredway 
 Annabel de Morgan

Background information on Firestone

Firestone is an international diamond mining company with operations in Lesotho. Firestone commenced commercial production in July 2017 at the Liqhobong Diamond Mine. Liqhobong is owned 75% by Firestone and 25% by the Government of Lesotho. Lesotho is one of Africa's significant new diamond producers, hosting Gem Diamonds' Letšeng Mine, Firestone's Liqhobong Mine, Namakwa Diamonds' Kao Mine and Lucapa's Mothae Mine.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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October 04, 2019 07:06 ET (11:06 GMT)

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