MANYARA: MINISTER for Minerals, Mr Anthony Mavunde yesterday launched a Tanzanite gemstones auction in the small town of Mirerani, Simanjiro District in Manyara Region, highlighting numerous benefits the auctions will bring to miners and the nation, including competitive and transparent pricing of the minerals.
Minister Mavunde commended all who facilitated the reintroduction of the gemstone auctions in the country, noting that the auctions are crucial in ensuring competitive and transparent pricing of gemstones.
He said the auction, which had been halted for some time, is part of the government’s strategy to promote Tanzanite internationally and enhance its value and also a measure to combat the smuggling of Tanzanite and help miners sell their gemstones at competitive prices aligned with global market standards.
The reintroduction of gemstone auctions reflects the government commitment to professionally manage the mining sector and ensure that all citizens benefit from mineral resources, the Minister said.
“These auctions will help integrate the mining sector with other economic sectors such as industry, trade and tourism, thereby advancing Tanzania’s goal of becoming a hub for the gemstone trade in Africa and globally,” he said.
The auctions will benefit stakeholders and the nation as a whole, considering Tanzania is blessed with abundant gemstone resources, saying they will also enhance and stimulate the efficiency of the gemstone trade within the country.
Mavunde said that the government will continue to strengthen gemstone markets by conducting the auctions transparently through an electronic system developed in collaboration with the Ministry of Minerals and the Ministry of Finance through the Tanzania Mercantile Exchange (TMX).
He further said that the Ministry also plans to coordinate regular auctions in gemstone-producing areas within the country to simplify gemstone trading and increase stakeholder participation from mining regions.
“Through these strategies, the Ministry will continue to provide opportunities for miners and all stakeholders to participate fully in the auction process”.
Minister Mavunde noted that following the establishment of gemstone auctions, there have been misleading claims that the government is going to take the minerals from the miners, he therefore assured the miners that the government has good intentions for the trade and everyone will receive their rightful share, adding that gemstones that will not be sold during auctions will be returned to their owners.
He called upon both local and international stakeholders to actively participate in gemstone auctions, such as those for Tanzanite, to increase price competition, attract international buyers and contribute to the economic development of the country.
Mavunde said the government will also continue improving infrastructure, particularly roads in mining areas, along with enhancing social services such as health centres and schools for communities living near mining sites.
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As part of efforts to promote gemstones, especially Tanzanite, the government will conduct various auctions and participate in international exhibitions with the aim of elevating the status of the minerals.
The government also plans to build a Tanzanite Smart City in Mirerani, Manyara Region, where international mining conferences will be held and encourage other regions to allocate areas for the construction of cities dedicated to hosting conferences and conducting mining business.
Meanwhile, the Ministry of Minerals has collected 434bn/- in a period of five months, thanks to reforms undertaken in the sector, including establishment of mineral markets and buying centres across the country.
Minister for Minerals, Mr Anthony Mavunde said that in the 2024/2025 fiscal year, his docket plans to collect 1tri/-, however, from July 1 to December 1, this year it had already collected a total of 434bn/-, raising a strong hope of exceeding the target.
For his part, the Deputy Permanent Secretary in the Ministry of Minerals, Msafiri Mbimbo said the auction has attracted a total of 195 registered participants, including 120 small-scale traders, 59 large-scale traders, 7 gemstone cutters and 9 miners.
The minerals sold at the auction weighed a total of184.06 kilograms worth 3.1bn/-.
