JOHANNESBURG (miningweekly.com) – Aim-listed coloured gemstone producer TanzaniteOne increased its production by 21,4% to 567 897 ct in the third quarter of the year, ended September 30, 2009, and has already exceeded its yearly production target.

The company told shareholders in a statement on Tuesday that it had already produced 1,71-million carats, to date, this year, slightly above the targeted 1,7-million carats.

Sorting techniques had been further advanced during the quarter, allowing the producer to unlock further value, it highlighted.

TanzaniteOne’s total revenues, generated between August and the end of November, amounted to $4,3-million.

To date, sales revenues in the second half of the 2009 financial year amounted to $2,48-million, with the regrading and classification scheme, as well as the company’s new marketing and sales initiatives, yielding a 42% price increase for the smaller, fractured and lighter stones, the company said.

The third formal sight sale of 2009, held in Dubai in November, resulted in revenues of $1,82-million, with the average price at $32/ct for the 56 450 ct sold.

Prices were down 15% on the average achieved during the August sight sale, owing to a lower quality of stones mined since August, the company explained.

Meanwhile, the company’s retail outlet, The Tanzanite Experience (TTE), had, by the end of October, generated a further $0,93-million from the two Arusha-based retail operations.

TTE had also opened a visitors centre at the mine, which would donate a percentage of its entrance fee to the local community.

Total sales, to date, for 2009, amounted to about $11-million, which TanzaniteOne noted demonstrated a progressive return in demand.