LONDON (Alliance News) - Richland Resources Ltd Tuesday said it has launched a new branding campaign for its gemstones and sapphires and sales will start in the second quarter, a move that it hopes will allow it to be able to provide customers with certainty over the origin of the stones.
The gemstone miner said the new Capricorn Sapphire brand will be introduced in phases and said only fully-certified sapphire from Australia will be sold under the brand in an attempt to provide customers with a guaranteed proof of origin.
Sapphire will be sold through a two-tier sales system, consisting of sight and auction sales with commercial buyers and through an online portal for the general retail market.
"At the core of the Richland brand is an ability to supply the luxury goods market with ethical gemstones of known provenance. The brand consistency engendered by the group wide launch will look to establish a reputation for the reliable supply of ethically mined, natural gemstones across a growing portfolio of products," said Richland.
Alongside sapphire, tanzanite will be sold under the new website, which will replace the company's old website, with online sales of both sapphire and tanzanite expected to begin in the second quarter.
Tanzanite is a blue or violet gem variety of zoisite, which contains vanadium.
"Utilising its unsurpassed knowledge of the tanzanite industry, world class tanzanite will be sourced by Richland from the Merelani tanzanite deposit and will be retailed as "Merelani Tanzanite" on the company's online sales website," said Richland.
"With first sapphire recovery set to begin at our Capricorn Sapphire mine in the coming weeks I am also delighted to start the roll out of our new brand exercise. Our objective is to build a consistent reputation for the ethical mining and sale of coloured gemstone," said Chief Executive Bernard Olivier.
Richland shares rose by 10% on Tuesday morning to 2.75 pence per share.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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