TanzaniteOne 1Q Production +8%, Sales +48%

We publish courtesy of Rapaport 

Author: Jeff Miller 

TanzaniteOne Limited produced 609,737 carats of tanzanite during the first quarter, representing a year on year increase of 8 percent. Sales rose 48 percent to  $3.96 million and TanzaniteOne recovered a remarkable  12,100-carat stone, the third largest mined in the history of the company.

In other news, TanzaniteOne noted the departure of its chief operating officer,   Zane Swanepoel. The specialty miner also stated that it is progressing  towards achieving its 2011 development goals  and  plans to appoint a new general manager for mining shortly.

TanzaniteOne’s chief executive Bernard Olivier said, ”During the quarter we have achieved an increase in production, grade and sales compared with same period last year. We have also achieved a maiden JORC compliant inferred and indicated resource at our Tsavorite project, which we are now completing a second phase of pilot sampling on.

”I would like to take this opportunity to thank Zane Swanepoel for all his efforts and hard work during his time with us. We have a highly experienced management team including an extensive team of highly proficient technical personnel on the ground in Tanzania who along with the company directors will lead the next phase of growth and development,” concluded Olivier.


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