Richland targets output beyond 800 000 ct a quarter from Q3
JOHANNESBURG (miningweekly.com) – Aim-listed Richland Resources expects to ramp up production at its Capricorn Sapphire project, in Australia, to beyond 800 000 ct a quarter from the third quarter of this year.
Richland was implementing various modifications and improvements to ensure consistent production above the 800 000 ct a quarter level.
Key projects included the redesign of the tailings treatment and water recirculation circuit and modifications to the processing plant’s primary jigs, scrubber system and feedbin to improve efficiencies and enable the plant to treat different gravel compositions.
Production in the first quarter of this year amounted to 415 456 ct, with mining and production continuing whenever possible between construction and improvement work.
The company on Tuesday said the majority of the required construction and modification work had now been completed and that it expects production for the second quarter to reach 600 000 ct as the ramp-up continued.
Meanwhile, the company earned $231 739 in revenue from the sale of 332 333 ct of lower-quality sapphire and corundum at an average price of $0.7/ct during the first quarter of this year.
Post period-end, it sold a further 50 065 ct of lower-quality sapphire and corundum at an average price of $3.17/ct after the first quarter, as well as 924 ct of higher-quality sapphire at an average price of $15.91/ct as part of a test sale of a combination of green, blue-green, blue and multicoloured stones.
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