Tanzanite One makes a $3 million net profit

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.