News

Tanzanite One makes a $3 million net profit

Earns an increase in rough and polished sales

diamond world news service

Tanzanite One, the leading producer of tanzanite has announced its results for the six months ending June 2007. It has earned an increased net profit of $3 million as compared to the $151,198 loss in the six months of 2006. It also scaled higher in its revenues by 31% to $21.3 million.

It has held two sights during the first half. Tanzanite One recorded a $18.5 million as its rough sales, of which, mined roughs accounted for $13.7 million and the share of traded roughs was $4.8 million in the total revenues. Polished stones generated $2.8 million.

Tanzanite production was higher by 34% to 762,073 carats up from 570,405 carats, which was partly due to a 4% increase in the average ore grade. Also, cash costs rose by 13% to $2.63 per carat due to delays in implementing upgraded ore processing technology.


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