TNZ Tanzanite

 

TIDMTNZ 
 
RNS Number : 9096I 
Tanzanite One Limited 
22 March 2010 
 

                                TANZANITEONE LTD 
                  ('TanzaniteOne' or the 'Company') (AIM:TNZ) 
 
                             APPOINTMENT OF NEW CEO 
 
+-+----------+---------------------------------------------------------------+ 
| *| Dr Bernard Olivier appointed to the newly created role of CEO            | 
| |                                                                          | 
+-+--------------------------------------------------------------------------+ 
| *| Core objectives:                                                         | 
| |                                                                          | 
+-+--------------------------------------------------------------------------+ 
| | *        | Return to profitability                                       | 
| |          |                                                               | 
+-+----------+---------------------------------------------------------------+ 
| | *        | Development of existing and new coloured gemstone sales       | 
| |          | channels                                                      | 
| |          |                                                               | 
+-+----------+---------------------------------------------------------------+ 
| | *        | Utilising coloured gemstone expertise to derive further value | 
| |          |                                                               | 
+-+----------+---------------------------------------------------------------+ 
| *| Zane Swanepoel becomes Chief Operating Officer -Tanzania                 | 
+-+----------+---------------------------------------------------------------+ 
 
TanzaniteOne today announces the appointment of Dr Bernard Olivier, aged 34, as 
Chief Executive Officer, having served the Company since 2008 as a Director. In 
addition to being an expert on Tanzanite geology, Dr Olivier has worked with a 
series of mining companies helping to develop value from their core assets. His 
appointment to the CEO role aims to leverage more extensively this commerciality 
combined with in-depth knowledge of coloured gemstones that has already provided 
significant benefit to TanzaniteOne over the last 15 months. 
 
Dr Olivier was asked to join the TanzaniteOne Board in November 2008, during the 
challenging global economic conditions of the period, which particularly 
affected the gemstone market as a whole. From his appointment as an Executive 
Director in 2009 Dr Olivier has implemented a margin enhancement programme 
targeting inefficient cost bases and, with Zane Swanepoel, worked on optimising 
the Company's Tanzanite mine operations. Mine optimization included the rapid 
implementation of new coloured gemstone sorting and processing technologies. The 
additional implementation of cost saving and efficiency programmes has enabled 
TanzaniteOne to maintain a robust performance during highly difficult market 
conditions. 
 
TanzaniteOne now has one of the most advanced sorting and recovery operations 
for coloured gemstones in the world and is looking to develop production at its 
Tsavorite project in Tanzania. It is anticipated that the establishment of 
multiple sales channels for Tanzanite will directly benefit the development of 
other coloured gemstone operations and the Board believes that the Company is 
now in a position to take maximum advantage of a recovering gemstone market. 
 
With a consistent revenue stream again established Dr Olivier's priorities are 
to move TanzaniteOne back into profit and secure further value from a proven, 
highly specialist mining process and an enhanced sales process. This initiative 
forms part of the Company's strategy to develop its main production base of 
lighter but similarly brilliant stones. 
 
As part of the Company's strategic restructuring Mr Zane Swanepoel, aged 50, 
becomes Chief Operating Officer - Tanzania. Mr Swanepoel, based in Tanzania, 
will devote himself fully to operational mining and development work in 
Tanzania. 
 
These appointments, which will take place with immediate effect, form the basis 
of realizing TanzaniteOnes next stage of development. . 
 
Ami Mpungwe, Chairman of the Company, today commented: "Bernard Olivier has been 
instrumental in the Company's drive back to profitability following the worst of 
the global economic crisis. Bernard Olivier and Zane Swanepoel both joined us in 
2008 and have successfully implemented modern, highly efficient recovery 
processes at the Tanzanite mine and realized significant efficiencies across the 
group.  With world gemstone sales recovering significantly, the task for 
TanzaniteOne is to achieve real value from our core competencies and assets. 
With this in mind our new CEO will focus on group development leaving Zane 
Swanepoel able to concentrate fully on Tanzanian operations and further 
operational development in that country." 
 
There is no information in relation to Dr Olivier's appointment required 
pursuant to Schedule 2 paragraph (g) of the AIM rules for Companies other than 
as follows: 
 
Current Directorships 
 
Bezant Resources Plc, Executive Director 
 
Past Directorships  (last four years) 
 
Great Australian Resources (ASX), Non-Executive Director 
 
Number of shares held in TanzaniteOne 
 
453,048 
 
For more information, please visit www.tanzaniteone.com or contact: 
 
Willi Boehm, Company Secretary 
+61 8 9367 5211 
Bernard Olivier, Chief Executive Officer 
+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) 20 7653 9850 
+44 (0)7979 955 923 
 
Notes to the Editor: 
 
About Bernard Olivier 
Bernard Olivier (34), CEO 
 
Dr Olivier is a geologist and has a PhD in Economic Geology. He is also a Member 
of the Australasian Institute of Mining and Metallurgy. His dissertation covered 
all aspects of the Merelani Tanzanite deposit and formed the foundations of the 
development of the current mining operations. He has been closely associated 
with the gemstone tanzanite since 1999 and prior to joining the board he acted 
as a consultant to TanzaniteOne. Dr Olivier has been working as a geologist 
since 1998 and has worked throughout several of sub-Saharan African countries 
and parts of Asia, among them Tanzania, South Africa, Zambia, Burundi, Malawi, 
Namibia, Cambodia and the Philippines. He is technical director of Bezant 
Resources Plc (AIM: BZT). 
 
About TanzaniteOne 
 
The intrinsic attraction of tanzanite and the finite nature of a single known 
resource at the foothills of Mount Kilimanjaro in northern Tanzania are 
undoubtedly part of tanzanite's allure. 
TanzaniteOne is the largest and most scientifically advanced miner and supplier 
of rough tanzanite, a unique position that affords it the opportunity to support 
and influence the entire channel, from mine to market, ensuring that maximum 
stakeholder value is achieved at each stage of the process. 
 
Our leading position in the tanzanite market has ensured TanzaniteOne the 
recognition and respect of its peers and provides the opportunity for expansion 
into a broader range of PCGs located at various key sites around the world. 
 
 
The following modified tanzanite grading and classification system is currently 
being used by the Company: 
 
+-------+----------------------------+ 
| Grade | Description                | 
|       |                            | 
+-------+----------------------------+ 
| A     | Exceptional Colour,        | 
|       | Flawless                   | 
+-------+----------------------------+ 
| B     | Rare Deep Colour           | 
+-------+----------------------------+ 
| B     | B Colour - Slightly        | 
| (SI)  | Included                   | 
+-------+----------------------------+ 
| B     | B Colour - Included        | 
| (I)   |                            | 
+-------+----------------------------+ 
| BL    | B Light Colour             | 
+-------+----------------------------+ 
| BL    | B Light - Slightly         | 
| (SI)  | Included                   | 
+-------+----------------------------+ 
| BL    | B Light - Included         | 
| (I)   |                            | 
+-------+----------------------------+ 
| D     | Opaque Material            | 
+-------+----------------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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