JOHANNESBURG (miningweekly.com) – Aim-listed Richland Resources is planning to increase production at its Capricorn sapphire mine, in Queensland, Australia, to more than 1.2-million carats a quarter during 2017.
The company has, in recent months, been making improvements to its processing plant, tailings dam, water retreatment infrastructure, mining operations and sorting facility to lift production above 800 000 ct from the third quarter of this year.
The mine had exceeded its 600 000 ct production target for the second quarter ended June 30, producing 617 750 ct.
Along with the 411 172 ct produced in the first quarter of the year, production for the first half of the year reached 1.03-million carats.
Richland sold 438 696 ct during the first half of the year at an average price of $1.30/ct, realising revenue of $569 000 for the six months to June 30.
“The reporting period has seen us achieve a number of key operational goals at our Capricorn sapphire project, including the establishment of a new geological model and resource, in order to guide future extraction, and the implementation of important optimisation upgrades at the plant,” CEO Bernard Olivier commented on Tuesday.