Tanzania resumes international gemstone auctions after seven-year hiatus

Tanzania has resumed an international gemstone auction in the northeastern Mirerani Ward in the Manyara Region after suspending it seven years ago.

Minister for Minerals Anthony Mavunde reinstated the auction on Saturday, saying the move is aimed at empowering local producers and jewellers. 

Mr Mavunde added that the reintroduction of the auction also seeks to curb the smuggling of minerals and enable miners to sell their gemstones at globally competitive prices.

A statement from the Ministry of Minerals said the auction attracted 195 participants, including 120 small-scale mineral traders, 59 large-scale mineral dealers, seven gem cutters and nine large-scale miners. 

The statement said the gemstones sold at the auction were estimated to be worth Tsh3.1 billion (about $1.3 million), with the total weight estimated at 184.06 kg. 

The ministry added that the gemstones included tanzanite, sapphire, spinel and tourmaline. 

In October, Mr Mavunde said the auctions would be held quarterly in selected Tanzanian cities, including Arusha, Dar es Salaam and Zanzibar. 

In December 2017, the Tanzanian government suspended the operation of international gemstone exhibitions and auctions in the country in order to find better ways to manage them.