DAR ES SALAAM, May 25 (NNN-DAILYNEWS) — OVER the past four years, Tanzania’s Ministry of Minerals has successfully reinstated both domestic and international gemstone auctions including Tanzanite as part of a broader strategy to promote the country’s mineral resources and enhance their competitiveness in the global market.
Speaking in Dar es Salaam during a presentation of the four-year achievements under President Samia Suluhu Hassan’s leadership in the mining sector, Minister of Minerals Anthony Mavunde revealed that legal reforms have already been made to restore the prestige of Tanzanite and reintroduce it aggressively into international markets through dedicated exhibitions and auctions.
“Gemstones are luxurious by nature, but Tanzania is not the only country that possesses them. We face stiff global competition. However, we are uniquely blessed with Tanzanite found only in Tanzania. We have therefore amended the law to help restore the gem’s prestige through international showcases and auctions. The first Tanzanite auction was held on December 14, 2024, as an initial step to attract market interest,” said Minister Mavunde.
He further emphasized that one of the key attributes that adds value to gemstones is their rarity. In recognition of this, the government has constructed a special facility the Tanzanite Exchange Center (TEC) in Mirerani, which will serve as the official trading hub for Tanzanite.
In addition to the security wall built around the Mirerani mining area to curb smuggling, the government has introduced further strategies to restore Tanzanite’s former glory and ensure a sustainable and profitable market for miners.
These measures are part of the government’s ongoing efforts to strengthen the mining sector’s contribution to the national economy and to uplift gemstone miners particularly those involved with Tanzanite through improved governance, international market access, and a conducive business environment. — NNN-DAILYNEWS
