Now that it’s up and running and producing gemstones from its Capricorn mine in Queensland, Richland Resources Ltd (LON:RLD) has put new sales agreements in place.
To start with, there will be two sightholders.
The first is Royal Touch LLC, which has had a long and successful working relationship with the company and was previously a sightholder for Richland's tanzanite mining operations in Tanzania.
Royal Touch has an extensive consumer network, especially in the United States of America and has close relationships with certain television sales networks.
The second is China Stone Co Ltd, a world-leading provider of precision-cut natural gemstones. China Stone delivers a wide range of natural gemstones to fine jewellers, watchmakers and luxury trade professionals throughout the world.
Richland has also entered into an exclusivity agreement with Royal Touch in respect of its fully-heated green sapphires. Under the terms of the agreement, Capricorn Sapphire will supply Royal Touch with all of its heated green sapphires on an exclusive basis for the majority of the size fractions.
"I am delighted to announce the appointment of China Stone and Royal Touch as our first Sightholders for Capricorn Sapphire and the exclusivity and supply agreement with Royal Touch,” said Richland chief executive Bernard Olivier.
“We look forward to taking our ethically-mined, fully-complaint and conflict-free sapphires to the world's markets through these and similar partnerships going forward."