Richland Resources Ltd, which is engaged in the extraction of precious stones, announced the creation of a new brand Capricorn Sapphire. The new brand will exclusively deal with the sale of fully certified sapphires from Australia. The company said that certification will ensure the confidence of buyers and customers in the guaranteed origin of stones.
Richland Executive Director Bernard Olivier said that the company decided to "concentrate on the project, which, as we believe, will soon bring us revenues."
Sales of sapphires will be carried out on a two-phase scheme - through the site / auction for commercial buyers, and through the Internet portal for the general retail market.
"I am happy to announce the creation of a new brand, as we will start producing the first sapphires from our Capricorn Sapphire project in the coming weeks, our goal is to get a stable reputation for the company engaged in ethical mining and the sale of colored gemstones," Olivier said.
In March 2015, Richland announced the end of its operations in and out of Tanzania after the sale of the tanzanite business of Sky Associates for $ 5.1 million. The reason for this decision was the safety problems at the mine for the extraction of the mineral. At the same time, Richland will continue to purchase tanzanite from the Merelani deposit.
At the moment the company is developing its Capricorn sapphire project in Queensland, the first stone sales through the existing site system are expected in the first half of this year.