Richland’s Queensland sapphire mine approaches profitability

The ramp up of the Capricorn sapphire mine to 1.2-million carats a quarter has lifted Richland Resources’ half-year performance, with the Aim-listed company on Monday reporting a significant revenue increase. The mine, in Queensland, delivered 1.96-million carats in the first six months of the year, comprising 700 000 ct in the first quarter and 1.26-million carats in the second quarter.