The Ministry of Minerals has officially reinstated domestic and international gemstone auctions, a move aimed at boosting Tanzania’s standing in the global gemstone market. Auctions will be held in key production regions, including Mirerani, Mahenge, Tunduru, Dar es Salaam, Arusha, and Tanga. Internationally, auctions will take place in prominent gemstone hubs like Bangkok, Thailand, and Jaipur, India.
This initiative, led by Minister of Minerals Hon. Anthony Mavunde, follows a series of legal reforms designed to elevate the sector’s competitiveness. The auctions, organized by the Mining Commission in collaboration with the Tanzania Mercantile Exchange (TMX), will utilize an electronic sales system to ensure transparent and fair pricing mechanisms for buyers and sellers.
The restoration of these auctions aligns with President Samia Suluhu Hassan’s broader vision to strengthen the country’s mineral sector and enhance market access for local traders. As Tanzania positions itself as a leading hub for gemstones and jewelry in Africa, this initiative is expected to generate substantial foreign revenue while promoting the integration of mining with other key industries, such as tourism.
Deputy Minister Dr. Steven Kiruswa emphasized the ministry’s efforts to adopt international best practices. He noted that officials had gained valuable insights from countries like the United States, India, and South Africa, which will help ensure successful implementation of the auction system and modern technology.
Stakeholders have welcomed this development, recognizing the economic potential it holds. Tanzanian gemstones, particularly Tanzanite—which is found exclusively in Tanzania—are expected to see enhanced global visibility and value. The revival of auctions is poised to make a significant impact on the country’s gemstone trade.
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