Tanzanite-mining and -marketing group TanzaniteOne has bought Lemshuku-Shamberai tsavorite project, in Tanzania, for £5,9-million in shares and cash, the firm said on Monday.
This acquisition, of what could potentially represent the largest-known single-source of tsavorite – a green gemstone – is in line with its strategy to leverage its position as a premium coloured gemstone producer, CEO Ian Harebottle said.
“It it is only natural that we apply our experience, knowledge and relationships to other gems, which are complementary to tanzanite,” he commented
He explained that tsavorite shared similar mineralogy, geology, locality, route-to-market and market positioning as tanzanite.
“I am confident that the proximity of the project to our tanzanite operations will allow us to effectively leverage off our existing infrastructure. This should allow for rapid project development and economies on the mining, processing and trading fronts.”
The project, comprising 12 prospecting licences over 100 km2, is located some 20 km from the southwest of TanzaniteOne’s existing tanzanite operations.
|
|
