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Diamonds are shifting from occasional to daily wear

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GJC has played a crucial role in the last 10 years in improving the compliance level in the industry

Coming from a renowned family of jewellers based in Akola, Maharashtra, Nitin Khandelwal heads Khandelwal Jewellers (Akola) Pvt Ltd. He has interests in the Plastic industry, Real estate, Health & Recreation and Cold storage industries as well...

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Johnson: ASM diamond sector a potential new source of supply for De Beers

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Zimnisky: Hard to protect lab-diamond price as production methods, economics improve

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23 april 2018

Firestone Diamonds appoints new CEO

15 may 2018
Firestone Diamonds has appointed Paul Bosma as the company’s new chief executive with effect from 1 July 2018 following Stuart Brown's decision to step down on 30 June.

Image credit: Firestone Diamonds

Bosma, who previously worked for De Beers, joined Firestone in 2014 as the mineral resources manager on the project team and was in 2016 appointed general manager of Liqhobong mine, in Lesotho.
“The board, in its succession planning, has been impressed with Paul's role as general manager of Liqhobong, while his significant experience in the diamond sector as well as a deep understanding of capital markets make him the ideal candidate to become the new CEO,” said company non-executive chairperson Lucio Genovese.
“...Stuart joined just under five years ago, with the mandate to lead the financing and construction which subsequently put Firestone into the elite group of producing diamond companies. We wish him every success for the future."
Meanwhile, Brown said Firestone was well placed to realise its full potential under Bosma's leadership.
“I feel confident that Paul knows the Liqhobong mine better than anyone and has been instrumental in delivering the mine performance within budget, and continuing Firestone's remarkable zero lost time injury record since project commencement in July 2014,” he said.
Firestone, which commenced commercial production at Liqhobong on 1 July 2017, said last March that it recovered 379,716 carats in the first half of its 2018 year ended 31 December 2017.
The stones recovered included a 134-carat gem-quality light yellow diamond.
The company also said last month that it sold 217,380 carats from Liqhobong mine in the third quarter of its 2018 financial year compared with 156,942 carats recovered in the second quarter.
The sales achieved an average value of $81 per carat yielding proceeds of $17.6 million from the previous quarter’s $12.5 million.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished


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