New gemstone price guidelines in offing

DODOMA: THE Mining Commission’s Directorate of Inspection and Mineral Trade has engaged key stakeholders in developing new guideline for prices of gemstones in the country to ensure a well-regulated and fair trading environment

Speaking at a recent meeting in Dodoma, which involved mineral valuers, small-scale miners and buyers, the Commission’s Director of Mineral Audit and Trade, Mr Venance Kasiki, said the gathering aimed to assess and set gemstone prices for the next three months.

The stakeholders participated under the umbrella of various associations, including the Tanzania Women Miners Association (TAWOMA), the Federation of Miners Associations of Tanzania (FEMATA), the Tanzania Mineral Dealers Association (TAMIDA) and the Tanzania Brokers Association (CHAMMATA).

Mr Kasiki told participants that the initiative aimed to create a win-win situation for all parties involved miners, buyers and the government, which collects royalties and inspection fees.

He assured stakeholders that the new prices would be transparent and easily accessible through online.

“The approved prices ceiling will be published on the Mining Commission’s website and other official platforms. I urge all stakeholders to regularly check these sources or visit resident mining officers for updates,” he emphasised.

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Additionally, Mr Kasiki acknowledged the challenges faced by mineral valuers and announced that quarterly meetings would be held to address these issues, share experiences and keep up with evolving global valuation technologies.

Meanwhile, a FEMATA representative, Mr Kalebi Gunda, welcomed the new guide prices, describing them as favourable to small-scale miners.

“The meeting was productive and the agreed prices are fair. Everyone will benefit miners, buyers and the government through royalties and service levies,” Mr Gunda stated