The Mining Commission has announced new indicative prices for gemstones following a consultative meeting with key industry players, in a move aimed at ensuring fair trade, boosting government revenue, and strengthening Tanzania’s mineral economy.
The meeting, held in Dodoma on Friday, brought together representatives from the Federation of Miners Associations of Tanzania (FEMATA), the Tanzania Women Miners Association (TAWOMA), the Tanzania Mineral Dealers Association (TAMIDA), and the Tanzania Brokers Association (CHAMMATA).
Director of Mineral Audit and Trade at the Mining Commission, CPA Venance Kasiki, said the updated prices will apply for the next three months and were determined based on global market trends and production costs.
“The aim is to create balance across the value chain so that miners, buyers, and the Government all benefit fairly,” Kasiki.
“The Government will collect its revenues through royalties and inspection fees, while trade continues transparently and competitively.”he added
He said the new pricing structure will help stabilize the market, prevent revenue leakages, and build greater trust among stakeholders in a sector that remains a key pillar of the national economy.
“These indicative prices will be publicly available through the Mining Commission’s website and regional mining offices. This will ensure access to reliable information, reduce malpractice, and promote efficiency in the gemstone trade,” he said.
Kasiki noted that the Commission will continue engaging stakeholders on a quarterly basis to review the pricing and address emerging challenges driven by technological changes in mineral valuation.
FEMATA’s Secretary for Gemstones, Kulwa Mkalimoto, welcomed the new prices, describing them as inclusive and fair to all actors within the gemstone value chain.
“The discussions went well and the new indicative prices are realistic. They strike a balance that allows miners, dealers, and the Government to all benefit. The Government will also gain through royalties, inspection fees, the HIV Response Levy, and service charges collected by local authorities,” Mkalimoto said.
By formalizing indicative prices, the Government seeks to enhance transparency and predictability in the trade of gemstones one of Tanzania’s most valuable natural resources while reinforcing its commitment to sustainable sector growth and equitable economic benefits for all.