TanzaniteOne to list at DSE

Tanzanite One, the gemstones producer and developer, sales has almost doubled in the second quarter, and announced its intention to list at Dar es Salaam Stock Exchange (DSE) before the end of this year.

The firm, operating the largest tanzanite mine in the world at Manyara, said they generated sales worth of 6.2 million US dollar in the said quarter, the best sales figure for the last three years. The financial statement shows that the sales represent an increment of 57 per cent from 3.96 million US dollar that was posted in the first quarter of this year.


The firm's Chief Executive Officer Mr Bernard Olivier said in a statement the sales were achieved through a combination of the sales of cut stones; rough tanzanite smaller than five carats and material sold at the company's retail outlets.

"The Company has had a very successful quarter and we are extremely pleased with the impressive sales results obtained in the second quarter," Mr Olivier said.

The CEO added: "during the period we not only achieved an increase in production and sales compared with same period last year but also achieved the best quarterly sales figures by the company in three years."

Mr Olivier said the firm also was "very excited by the sapphire project in Australia and the initiation of our secondary listing on the Dar es Salaam Stock Exchange."
The secondary listing on the DSE will give Tanzanians and Company employees the ability to invest in the Company's shares.  In the second quarter of this year, Tanzanite One achieved production totalling 641,615 carats from the processing of 12,198 tonnes of material at an average grade of 53 carats per tonne for the quarter.

On Tsavorite mine which is close to the tanzanite mine in Manyara, the firm has decided to incorporate the final phase of the Tsavorite resource establishment work with the upcoming bulk