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Tanzania Holds First Tanzanite Auction Since 2017, Showcasing 184 Kilograms Worth TZS 3.1 Billion

The Tanzanian government held its first Tanzanite auction since 2017 in Mirerani, featuring 184 kilograms of gemstones worth TZS 3.1 billion. Nearly 200 participants, including brokers, dealers, and miners, joined via an electronic platform. The event aligns with Tanzania’s Vision 2030 to formalize the gemstone trade and boost its economic impact.
December 21, 2024
2 minute read
Tanzanite auction Tanzania

The Tanzanian government, through the Ministry of Minerals, conducted its first Tanzanite auction in Mirerani, Manyara, on December 14, 2024.

The auction featured 184 kilograms of Tanzanite gemstones valued at TZS 3.1 billion and attracted nearly 200 participants, including brokers, dealers, and miners, via an electronic platform.

The auction is part of ongoing efforts to formalize the gemstone trade and address challenges such as smuggling and informal trading.

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Minister of Minerals, Hon. Anthony Mavunde, highlighted the importance of Tanzanite to the country’s economy and its traders.

“Tanzanite is unique, and restoring its international reputation is key to increasing its value and benefiting traders while enhancing national revenue.”

The Tanzanian government also announced plans for the development of the Tanzanite Smart City in Mirerani. The proposed development will include a Tanzanite Exchange Centre, hotels, conference facilities, and a helipad, aiming to transform Mirerani into a global mining hub.

Deputy Permanent Secretary of the Ministry of Minerals, Msafiri Mbibo, noted that the auction involved both small and large-scale traders. Simanjiro MP, Hon. Christopher Ole Sendeka, expressed support for the ongoing formalization of the Tanzanite trade.

This initiative is aligned with Tanzania’s Vision 2030, emphasizing the mineral sector’s role in economic growth and wealth creation.

Tanzanite

Tanzanite is a rare blue-violet gemstone found only in Tanzania, specifically at the foothills of Mount Kilimanjaro in Mirerani, Manyara Region. Discovered in 1967, it is one of the most sought-after gemstones globally due to its unique color and rarity.

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The Tanzanian government has taken significant steps to regulate the Tanzanite sector. This includes constructing a 24-kilometer perimeter wall around the Mirerani mining area in 2018 to improve oversight and reduce illegal mining.

The last major Tanzanite auction before this event was held in 2017.

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