Firestone Diamonds promotes mine manager to CEO

Lesotho-focussed diamond producer Firestone Diamonds has promoted Paul Bosma to the role of chief executive, effective from 1 July.

Bosma’s appointment, which follows Stuart Brown’s decision to step down from his roles as chief executive and director of the company, is his second major promotion at Firestone since having joined as a mineral resources manager in 2014.

In 2016, Bosma was appointed the general manager of Liqhobong mine and has “impressed” the board, according to Firestone.

Stuart Brown, outgoing chief executive, said: “I feel confident that Firestone is well placed to realise its full potential under Paul's leadership. 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. Paul has proven he is more than capable of taking this project forward and I wish him every success.”

Of Bosma’s 24 years of experience working in the mining industry, 14 have been focussed specifically on diamonds, with Bosma working as general manager of a joint venture between De Beers and Anglo Gold Ashanti prior to joining Firestone.

The qualified geologist also worked as vice president for Swiss-based international mining investment firm Pala Investments.

Lucio Genovese, non-executive chairman, said: “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.”

As of 0910 BST, Firestone Diamonds’ shares were down 2.29% at 6.40p.