Richland Resources mine gets 30 year life extension
Richland Resources, the coloured gem stone miner, says new tests have indicated the life of its Mereleni mine in Tanzania could be extended by 30 years.
Richland Resources, the coloured gem stone miner, says new tests have indicated the life of its Mereleni mine in Tanzania could be extended by 30 years.
The total indicated resource of the mine is now estimated at 105 million carats up from the previously thought 72 million carats.
Between 2004 and 2011 the mine produced over 11.5 million carats from around 266,000 tonnes of material.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The new tests have made the asset "JORC compliant", which means it conforms to internationally recognised measurement standards.
Richmland shares have jumped 9.6% in morning trading. Over the past year the stock has gained 29%.
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
The five insurance policies you should have
Some insurance cover will be more important than others. We look at five insurance policies you may need to have to make sure you aren’t caught out in an emergency
-
Is Donald Trump putting the US dollar in danger?
Donald Trump's administration sees one of its greatest advantages – the US dollar – as a burden. Gold is the obvious beneficiary, says Cris Sholto Heaton.