Tanzania's minerals minister dropped plans to pump up tanzanite's reputation and get better prices for the local mining scene in Mirerani. Anthony Mavunde told dealers and brokers at the Tanzanite Exchange Centre that the gemstone pulled in 161 billion shillings before, and the whole mining sector just hit 1 trillion in revenue by mid-2025. He said sloppy production control tanked prices over the years because nobody coordinated sales properly.
The government wants to rebrand tanzanite for fancy international buyers and restart domestic auctions while building out global exhibitions. They are turning the exchange center into a legit hub for tracking trades and collecting taxes better. Mavunde floated the idea of a full tanzanite city with hotels and logistics to create jobs, and he mentioned 291 young people had already scored mining licenses through youth programs.
Officials promised faster Bank of Tanzania payments within 24 hours for verified sales, plus an export guarantee fund so Tanzanian traders can buy in bulk and compete with foreign buyers instead of getting squeezed out.
The government wants to rebrand tanzanite for fancy international buyers and restart domestic auctions while building out global exhibitions. They are turning the exchange center into a legit hub for tracking trades and collecting taxes better. Mavunde floated the idea of a full tanzanite city with hotels and logistics to create jobs, and he mentioned 291 young people had already scored mining licenses through youth programs.
Officials promised faster Bank of Tanzania payments within 24 hours for verified sales, plus an export guarantee fund so Tanzanian traders can buy in bulk and compete with foreign buyers instead of getting squeezed out.
