TanzaniteOne hits 2.2m carats production target

The Tanzanite Foundation has announced that it will close after 11 years. (Pictured: A selection of tanzanite rings)

Gemstone company sales hit $15.8m in 2010, up from $12.5m in 2009

Gemstone company TanzaniteOne Limited has achieved its annual production target of 2.2m carats, up from 1.9m carats in 2009.

The average grade was 59 carats produced per tonne, compared with 51 carats per tonne previously. TanzaniteOne also reported a positive shift in fourth-quarter production, which totalled 0.54m carats from the processing of 8,280 tonnes of material at an average grade of 65 carats per tonne.

Tanzanite sales for the year were $15.8m, up from the $12.5m seen in 2009.

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The company is continuing talks with the Tanzanian government regarding a ban on the export of rough tanzanite of more than five carats, which came into effect on December 31.

The company remains positive that it will be able to maintain its improved revenue stream through the continued expansion of sales from its own facility, agreements with other cutting facilities in Tanzania, and the sale of material not affected by the ban.

TanzaniteOne is also working towards establishing an economic model for a tsavorite mine, where it will start a bulk sampling programme with a view to updating the resource in Q2.

 

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