Sale of Richland’s Tanzanian assets concluded
JOHANNESBURG (miningweekly.com) – Aim-listed Richland Resources this week closed the sale of its tanzanite mining, beneficiation and tsavorite licence interests in Tanzania to Sky Associates for $5.1-million.
The gemstone miner announced in November 2014 that it would exit Tanzania to focus on its sapphire operation in Australia, as illegal mining activities had negatively impacted on its operations in the East African country.
Sky now owned Tanzanite One Mining (TML), TsavoriteOne Mining and Urafiki Gemstones, which operated Richland’s cutting facilities in the country.
Richland received $4.08-million of the purchase price this week, in addition to the $510 000 already paid by Sky at the end of last year.
A further $510 000 would be paid on June 8.
“On behalf of Richland, and on a personal level, I would like to take this opportunity to thank the over 600 TML employees, who will be continuing with Sky, for their dedication and hard work over the years and, in particular, [over] the last two years when TML faced many security and operational challenges.
“I trust that the employees will be a valuable asset to Sky and wish them and Sky a bright and prosperous future,” commented Richland CEO Bernard Olivier.
He reiterated that Richland was focused on bringing its Capricorn Sapphire project, in Australia, into profitable production. Plant commissioning had started in February.
The gemstone miner was planning to launch the Capricorn Sapphire brand during the first quarter of this year.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...
VISIT SHOWROOM
Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
