JOHANNESBURG (miningweekly.com) – Aim-listed gemstone developer and producer Richland Resources has agreed with Tanzanian company Sky Associates to extend the longstop date for the sale of Richland’s tanzanite mining and beneficiaiton business, as well as its tsavorite licence interest in Tanzania, from February 23 to March 16.
The company noted that it was working closely with Sky Associates to close the $5.1-million sale of its Tanzanian mining, exploration and cutting operations.
Richland added that it would provide the necessary notifications to the South African Reserve Bank in accordance with the Exchange Control regulations of South Africa and anticipated closing the sale agreement and the sale on or before March 16.
Tanzania’s Minister of Energy and Minerals this month approved the deal.