JOHANNESBURG (miningweekly.com) – Aim-listed gemstone producer Richland Resources’ Capricorn Sapphire subsidiary has entered into an exclusivity and supply agreement with jewellery manufacturer Royal Touch, which will buy all its heated green sapphires on an exclusive basis for the majority of the size fractions.
The sapphires, which are recovered from the Capricorn sapphire mine, in Queensland, Australia, are heated at Capricorn's beneficiation facility in Thailand.
As part of the agreement, the company is also guaranteeing Royal Touch a minimum monthly supply of heated green sapphires to enable Royal Touch to commit to the marketing and market development of the coloured sapphires.
Meanwhile, the company also appointed Royal Touch, alongside China Stone, as its first sightholders.
Royal Touch has an extensive consumer network, particularly in the US, where it has close relationships with certain television sales networks, while China provides precision-cut natural gemstones in a strictly uniformed and digitally calibrated array of colours, proportions and sizes. It delivers a range of natural gemstones to fine jewellers, watchmakers and luxury trade professionals throughout the world.
Richland CEO Bernard Olivier said the company looked forward to taking its ethically mined, fully compliant and conflict-free sapphires to the world's markets through these partnerships.
Edited by: Chanel de Bruyn
Creamer Media Senior Deputy Editor Online
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