Diamond production at Firestone Diamonds' Liqhobong mine in the Kingdom of Lesotho is expected to recommence in February 2011, ahead of schedule, proactiveinvestors.co.uk reports.

Toward the end of 2010, Firestone raised £13 million, which allowed it to step up work to expand production at the mine's main kimberlite pipe, which contains an estimated 31 million carats of rough diamonds with an average per-carat value of $98. Once both plants at Liqhobong are running at full capacity, the mine will produce about $183 million annually.

Firestone CEO Philip Kenny said that the company was "very pleased with the rapid progress [at Liqhobong]" and said that the Lesotho mine, combined with the company's diamond projects in Botswana, would allow it to produce 1 million carats a year by 2014.