Tanzanite Price Skyrockets

THE decision by President John Magufuli to have a wall constructed around Mirerani mines has swiftly paid dividends, as the value of the gems has gone up from 800,000/- to 1.6million/- per gramme.

The wall that was constructed by the National Service team has now seen a gramme of tanzanite being valued at 1.6m/- as opposed to last year’s value that was 800,000/-.

The Vice-Chairman of the Tanzania Mineral Dealers Association (Tamida), Mr Thomas Munisi, said here that the new value is a record as the price had never increased to that amount before, but now, the blue and violet variety of the mineral zoisite’s value has appreciated within and outside the country .

The Chairman of Tanzania Small Gemstone Dealers Organisation (TASGEDO), Mr Modest Bainet, said construction of the wall had made the mines pricey, in addition to assigning integrity to the sector.

Mr Bainet said they were on all fours with the government that slapped a ban on hit-or-miss auctions of tanzanite, saying that many of the auctions were used as a platform for smuggling the minerals out of the country.

“We are happy with the government’s decision to oversee the sector through construction of the wall and now we see tanzanite’s value has gone up,” said Mr Bainet.

The Northern Zone Mineral Commissioner, Mr Adam Juma, said the government put up the wall so as to control mining of tanzanite because many businesspersons were not honest.

He said currently, all minerals that were illegally mined are not available in the market, leading to appreciation of their price. A tanzanite trader, Mr Lucas Mdemu, said now the real value of the mines was evident

. The wall was inaugurated by President Magufuli. It covers 15 square kilometres while the whole area of the mine is 81.99 square kilometres.

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