HomeEast AfricaTanzanite One exceeds production targets

Tanzanite One exceeds production targets

Tanzanite One’s
tanzanite processing
plant in Tanzania
London, England — MININGREVIEW.COM — 02 February 2010 – Tanzanite One – the AIM-listed gemstone producer whose Merelani mine is in Tanzania “’ has announced that its 2009 gemstone production exceeded its targets, and it has made strong progress towards moving back into profitability in the year.

The mine is situated in the Merelani tanzanite mining area in the Simanjiro district of Northern Tanzania, 70km south-east of Arusha “’ the only known source of tanzanite in the world.

The company “’ which holds the licence to the largest of four mining blocks in the world’s only tanzanite-producing area near Mount Kilimanjaro in Tanzania “’ confirmed in a statement here that the mine had produced 1.91 million carats and recorded sales of US$12.2 million (R91.5 million) in 2009.

Tanzanite One also revealed that it had signed a memorandum of understanding with Japan’s Hohoemi Brains Inc. for cutting and distribution of its gemstones.

Shares of the company closed at 13.25 pence on Friday on the London Stock Exchange.