No Tanzanite auction without mineral regulations in place, declares head of State  
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No Tanzanite auction without mineral regulations in place, declares head of State  

“I permitted about 500 kilograms of tanzanite to be sold in the auction which brought more than 1.2billions shillings and the government collected its taxes.”

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No Tanzanite auction without mineral regulations in place, declares head of State  

“I permitted about 500 kilograms of tanzanite to be sold in the auction which brought more than 1.2billions shillings and the government collected its taxes.”

08 January 2018 Monday 12:01
No Tanzanite auction without mineral regulations in place, declares head of State  

By Azania Post Reporter

THE government has said no further tanzanite auction would be carried in near future until the new mineral regulations are signed.

This was said today in Dar es Salaam by President Dr John Magufuli , soon after he swore - in Dotto Biteko as the new Deputy Minister  for Minerals.

Dr Magufuli  said last year he blocked the auction of Tanzanite mines because there were  no regulations to guide the sector.

“I permitted about 500 kilograms of tanzanite to be sold in the auction which brought more than 1.2billions shillings and the government collected its taxes,” he said.

Magufuli said once the new regulations are signed, the Tanzanite auction would resume to enable the country benefit much with the natural resources the move     

“If we supervise this sector very well it can help the country get out of poverty  , I ask you leaders to cooperate in this in order to support our government”, he said.

More than 42, 201 grams of gemstone worth 1.84 billion  was sold during last year auction , the government got  shillings 124.8million as loyalty and taxes.

A total of 60 companies from seven countries namely Tanzania , Sri Lanka, Hong Kong, India United States of America, China, and Thailand participated in auction.

 It was announced earlier late last year that Tanzania was  expected to auction tanzanite in the mining site of Mererani in an effort to sell the gemstone in the country, profitably of natural resources.

Reports show that once in place the auction is aimed at assisting small-scale miners to sell their minerals at a competitive price.

The tanzanite auction normally  involve local and international buyers, whereby anyone who meets the indicated prices would be allowed to buy the gemstones.

Experts say the success of the second mineral auction reinforced the importance of ongoing initiatives to build mineral export processing zone at Mirerani Hills in Simanjiro District where the rare blue gemstones are mined.


Azania Post

Azania Post

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