https://www.miningweekly.com

Richland committed to returning Aus sapphire mine to production by Q1 2015

23rd July 2014

By: Leandi Kolver

Creamer Media Deputy Editor

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Africa-focused gemstone producer Richland Resources was fully committed to bringing the Nardoo Sapphire project, in Queensland, Australia, back into production during the first quarter of next year, Richland CEO Bernard Olivier said on Wednesday.

Richland acquired Nardoo, which has a measured resource of 109-million carats, in exchange for A$1.18-million in cash and about 18-million Richland shares, in June.

“The remainder of 2014 shall be an important time for Richland as we move Nardoo Sapphire towards commissioning,” Olivier stated.

Further, he pointed out that the company had, during the second quarter of the year, seen improvements at its tanzanite-mining subsidiary TanzaniteOne Mining, while the Tanzania government continued to remove illegal miners from the company’s licence area, following Richland’s decision to restrict investment into the country.

TanzaniteOne, increased its production to 1.01-million carats during the second quarter of the year, up from 754 585 ct produced during the same period last year.

During the quarter, 6 494 t of material was processed with recovery at an average grade of 156 ct/t.

Further, during the quarter, the Merelani tanzanite mine, which is a 50:50 joint venture between TanzaniteOne and the Tanzania State Mining Corporation, contributed an estimated $2.8-million in revenue.

“The quality of the tanzanite produced remained low due to the continuing lack of high-quality production areas available to be mined by TanzaniteOne as a direct result of illegal mining activities in the Block C licence area,” Richland noted.

The company also achieved $600 000 in additional revenues during the three-month period from its retail and beneficiation operations.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ASTPM
ASTPM

Established in 1983, the ASTPM is an industry association and representative body of the welded carbon steel tube and pipe manufacturers of South...

VISIT SHOWROOM 
ATI Systems
ATI Systems

ATI systems comprises five divisions: electrical assemblies, drives and controls, feedback sensors, enclosures, and strip guiding.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.043 0.827s - 111pq - 2rq
Subscribe Now