Gareth Penny–Led Group Buys Diamond Operations

A group led by former De Beers CEO Gareth Penny has bought the Botswana operations of Firestone Diamonds.

Those operations include Firestone’s interest in the BK11 mine in Botswana.

The group, Amulet Diamond Corporation, paid $5.1 million in cash. Amulet consists of private investors led by Gareth Penny and Diacore Diamond Group.

Amulet plans to fund the construction and operation of a bulk sample plant at BK11.

Firestone is headed by Stuart Brown, who became co-CEO of De Beers following Penny’s departure.

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JCK News Director