The Minister of Minerals, Anthony Mavunde, has reaffirmed the government's commitment to restoring the prestige of Tanzanite through strategic internal and international auctions.
The initiative aims to enhance the value of Tanzanite, boost trader profits, and increase national revenue.
Speaking at the inauguration of a gemstone auction in Mirerani on December 14, 2024, Minister Mavunde underscored the significance of formalizing and controlling the mineral trade to curb smuggling and maximize revenue.
The event marked the first gemstone auction since 2017.
“Gemstones symbolize luxury and status, and the market is highly competitive. The government is determined to reposition Tanzanite as a global leader in this market,” said Mavunde. “Through internal and international auctions, we aim to increase Tanzanite’s value and restore its global prestige.”
Mavunde emphasized the importance of maintaining Tanzanite’s classification as a precious gemstone. “Globally, gemstones are categorized as Precious, Semi-Precious, or Ordinary.
Tanzanite’s rarity makes it invaluable. We must ensure it does not lose its status, as this would devalue it significantly,” he warned.
The Minister added that the government’s measures aim to prevent Tanzanite from being traded at low prices that undermine its worth.
“We are committed to protecting the prestige of Tanzanite to benefit traders and the nation,” Mavunde stated.
The Minister assured stakeholders that unsold minerals from the auction would be returned to their owners.
“Contrary to past concerns, the government will not confiscate unsold minerals. For example, unsold minerals from the 2017 auction were left at the Bank of Tanzania. These will now be returned to their rightful owners,” he clarified.
He added that this approach aligns with President Samia Suluhu Hassan’s administration’s commitment to fostering a supportive business environment.
Minister Mavunde announced plans for a ‘Tanzanite Exchange Centre’ and the development of a ‘Tanzanite Smart City’ in Mirerani. “This city will feature hotels, a helipad, a large conference hall, and other facilities. We envision hosting major mining conferences in Mirerani in the future,” he said.
Deputy Secretary-General of the Ministry of Minerals, Msafiri Mbibo, revealed that the auction registered 195 sellers on the electronic auction system, including 120 small-scale traders, 59 large-scale traders, 7 lapidary businesses, and 9 miners. The auction showcased 184.06 kilograms of minerals valued at TZS 3.10 billion.
Deputy Chairman of the Parliamentary Standing Committee on Energy and Minerals, Hon. Kilumbe Ng’enda, lauded the Ministry’s efforts in enhancing mineral research and aligning with the “Vision 2030: Minerals for Life and Wealth” agenda.
“The committee will continue to support the Ministry to ensure the mining sector’s contribution reaches 10% of GDP by 2025,” he added.
Simanjiro MP Christopher Ole Sendeka commended the government for establishing markets and purchasing centers that strengthen the economy.
He advocated for continuing gemstone trading in Mirerani as the Mirerani Mineral Market develops.
Manyara Regional Commissioner, Hon. Queen Sendiga, emphasized the auction’s benefits for miners, traders, and the national economy.
“These auctions will boost miners’ incomes, increase government revenue, enhance the quality of gemstones, and promote Tanzanians’ participation in the mining sector,” she said, urging citizens to invest in mining opportunities.
The government’s initiatives, led by Minister Mavunde, signify a significant step toward restoring Tanzanite’s prestige and bolstering Tanzania’s mining sector.
Through enhanced market access, stakeholder engagement, and infrastructure development, the future of Tanzanite shines brightly.