Richland committed to returning Aus sapphire mine to production by Q1 2015
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.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...
VISIT SHOWROOM
Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...
VISIT SHOWROOM
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
