Richland Resources said it produced 1.095 million carats of tanzanite, in Tanzania during the fourth quarter of the fiscal year (FY) 2013 compared to 795,162 carats recorded a year earlier.
Its wholly-owned subsidiary TanzaniteOne produces the rare gemstones in partnership with STAMICO, a state owned mining company.
Richland said that grades at also improved to 166.05 carats per tonne, from 102 carats during the fourth quarter of FY 2012.
It also recorded sales of $2.7 million in the quarter.
"The fourth quarter of 2013 saw us complete a number of key tasks that will allow Richland to move production and sales forward,” said chief executive Bernard Olivier said.
“An agreement has been reached over tanzanite mining with the Government of Tanzania, previously producing areas in the northern part of Block C have been re-entered by our workers and complementary revenue streams to rough tanzanite sales are now well established.”
He said the company was now focused on bringing high value gemstone areas of the mine back into the tanzanite production profile.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
