Statement re. Press Reports


 

TIDMTNZ 
 
RNS Number : 3468N 
Tanzanite One Limited 
09 June 2010 
 

9 June 2010 
                              TanzaniteOne Limited 
                  ("TanzaniteOne" or "the Company") (AIM: TNZ) 
                           Statement re Press Reports 
The Company notes recent press reports citing Mr William Ngeleja (Minister for 
Mining and Energy), on the consequences of the proposed new subsidiary clause 13 
to the Mining Act of 1998 (the 'Act'), on the banning of gemstone exports larger 
than 1 gram from Tanzania. 
 
TanzaniteOne would like to take this opportunity to outline its current status 
with respect to cutting operations and the implications of the proposed change 
to the Act for the Company. 
 
The Tanzanian Government has expressed a wish for more cutting to occur in 
Tanzania and recognises that TanzaniteOne already utilises domestic cutting and 
polishing operations. The Company is in the process of drafting a proposal 
document to assist with expansion of the Tanzanian cutting industry that 
includes a phased expansion of the Company's cutting and polishing facilities in 
Tanzania and the training of a skilled local workforce with input from master 
cutters under the Company's partnership with Grafgem. 
 
In order for Government to assess the existing capacity of miners and dealers 
(Including TanzaniteOne) to comply with the >1gram rough tanzanite banning 
order, a grace period has been given to continue exporting rough tanzanite until 
compliance plans from miners and dealers have been submitted and approved by 
government. 
 
Given that a large portion of TanzaniteOne's rough production profile is above 1 
gram, the company is proactively preparing a comprehensive compliance program 
which will include the current and future cutting programs, the possibility of 
sale of material into the domestic market and the required continuation of 
exportation of rough material in excess of 1 gram, whilst building the strategy 
to fully comply with the government order. 
 
Commenting today Bernard Olivier, CEO, of TanzaniteOne said "We are actively 
working with the Government of Tanzania looking at ways to develop a commercial 
and sustainable cutting industry in the country. As one of the longest running 
mining operations in Tanzania and a regular contributor to the domestic economy 
we are working closely with the Government to support new industry while 
ensuring that operational margins are sustained." 
 
                                      END 
For more information, please visit www.tanzaniteone.com or contact: 
Willi Boehm, Company Secretary 
+61 8 9367 5211 
 
Bernard Olivier, Executive Director 
+61 4089 481812 
 
Nominated Adviser and Broker 
Ambrian Partners Limited 
Richard Greenfield/ Richard Chase 
+44 (0) 20 7634 4700 
 
Public Relations 
Threadneedle Communications 
Laurence Read/ Beth Harris 
+44 (0)7979 955 923 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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