Diamond miner Firestone Diamonds (FDI) announced on Thursday that it saw strong results from its sale held recently in Botswana.

The AIM-listed firm said 7,111 carats sold for gross proceeds of approximately $1.4 million in a tender that was attended by more than 25 local and international buyers.

From its Liqhobong site 4,850 carats from the main pipe and satellite pipe sold at an average of $181 per carat, which was an increase of 85% from December 2010.

The firm said that excluding satellite pipe production and diamonds held over from 2010, run of mine production from the main pipe was valued at an average of $130 per carat, an increase of 33% since December. Higher prices are expected for diamonds from the main pipe as production ramps up.

Meanwhile, at its BK11 site 2,241 carats sold for an average price of $230 per carat, which represents an increase of 30% since December. Firestone also expects higher diamond prices from this site once a new crushing circuit is commissioned.

Tim Wilkes, chief executive of the company, said: “We are very pleased with the results of our latest diamond sale, which show significant increases in prices achieved from both Liqhobong and BK11.

“The higher prices reflect the quality of production from the mines as well as the continued strength of the rough diamond market.”