Tanzania Revives Prestigious Gemstone Auction, Boosting Local Mining Economy
Tanzania has officially restarted its international gemstone auction in the Mirerani Ward of Manyara Region, marking a significant revival after a seven-year suspension. The Ministry of Minerals announced the strategic move to empower local producers and strengthen the nation’s gemstone trading ecosystem.
The inaugural auction attracted an impressive 195 participants, including 120 small-scale mineral traders, 59 large-scale mineral dealers, seven gem cutters, and nine large-scale miners. This diverse participation highlights the robust interest in Tanzania’s vibrant gemstone market.
Valued at approximately 3.1 billion Tanzanian shillings (equivalent to $1.3 million), the auction featured a stunning collection of 184.06 kg of premium gemstones. The remarkable assortment included rare and sought-after minerals such as tanzanite, sapphire, spinel, and tourmaline.
The Ministry of Minerals revealed plans to conduct these auctions quarterly, with selected cities including Arusha, Dar es Salaam, and Zanzibar. This strategic approach aims to combat mineral smuggling while ensuring local miners can access globally competitive pricing.
Originally suspended in December 2017 to restructure management protocols, the auction’s resumption signals a renewed commitment to developing Tanzania’s mineral trade infrastructure and supporting local mining communities.
