Dar es Salaam. A section of Tanzanian mineral traders have expressed high hopes regarding the resumption of gemstone auctions on Saturday, December 14, in the Mirerani area, Manyara Region.
They believe that the return of these auctions will significantly boost the value of minerals, particularly Tanzanite, a rare gemstone found only in Tanzania.
Various traders have praised the government for this important step, stressing that it will not only help increase the global market value of Tanzanite but also contribute to the local economy by creating jobs and fostering small businesses linked to mining activities.
The auction has attracted a total of 195 participants, including 120 small-scale traders, 59 large-scale traders, 7 gemstone cutters, and 9 miners.
The minerals being sold at the auction are estimated to be worth Sh3.1 billion, with the total weight of the minerals at 184.06 kilograms.
The gemstones up for sale today include Tanzanite, sapphire, spinel, and tourmaline.
Commenting on the auctions, mineral dealer Upendo Kibona, who is the Director of Lucid Dream Limited, stated that the return of the Mirerani mineral auctions would increase transparency in the mineral market and ensure that sellers receive fair prices through direct competition among buyers.
“We are truly grateful to the government for bringing back these auctions because it gives us the opportunity to sell our minerals at competitive prices,” said Ms Kibona.
She went on to add: “While this is a local auction, it will help raise competition in prices, and even when international auctions start, we will be in a better position.”
Mineral broker Glory Robinson stressed that she hopes the auctions will stimulate the local economy through jobs and small businesses that depend on mining activities.
She believes Mirerani could become a hub for economic development in the Manyara Region, as the auctions attract both local and international buyers who also use services like hotels, transportation, and other local products.
“I encourage my fellow women to seize this opportunity because through businesses in the entire mineral value chain, they can improve their incomes and support their families,” emphasized Ms Robinson.
Meanwhile, mineral broker Sweety Nkya stated that the government has shown its commitment to ensuring the mining sector contributes significantly to the national economy.
She added that through the auction systems, trade will be conducted fairly, and successful participants will receive their rightful share of profits from buying and selling minerals.
“The return of the Mirerani auctions is proof of the government’s intent to manage the country’s resources for the benefit of all Tanzanians,” asserted Ms Nkya.
Adding: “This auction system is good, and education should continue to be provided widely so that people can see the benefits and get involved in this business.”
Minister for Minerals, Mr Anthony Mavunde, confirmed that the auction is a significant step in curbing the smuggling of minerals and ensuring miners can sell their gemstones at globally competitive prices.
Speaking at the launch ceremony, Mr Mavunde explained that the initiative will help regulate the sale of Tanzanite, ensure transparency, and contribute to national revenue through taxes and royalties.
The auction, which is expected to attract both local and international buyers, will be held under strict security protocols to safeguard the high-value gemstones and ensure a fair process.
“The highest bidder meeting the set price will secure the gemstones,” Mr Mavunde stated, highlighting the importance of security and integrity in the event.
This auction marks a milestone in Tanzania’s efforts to strengthen the value of its unique gemstones, following similar initiatives in other African countries like Zambia (emeralds), Zimbabwe (diamonds), and South Africa (diamonds).
Speaking earlier, Mr Nicholaus Kaselwa, a senior business officer from the Tanzania Mercantile Exchange (TMX), spoke about the digital system used in these auctions.
He explained that the TMX is an official platform that brings together sellers and buyers for contract-based transactions that ensure quality, volume, and payment security.
“We have a trading system where commodity auctions like this one are conducted using a digital platform, which allows buyers to make purchases from anywhere and set competitive prices,” said Mr Kaselwa.
Adding: “The one with the best price is announced as the winner and has 48 hours to pay and collect the goods.”
Deputy Permanent Secretary in the Ministry of Minerals, Mr Msafiri Mbibo, said the first international gemstone exhibitions in the country, which at different times involved sales through auctions, began in 1992 and continued until 1998.
They were organized by the Tanzania Mineral Dealers Association (TAMIDA) in Arusha Region.
These exhibitions, he explained, were revived by the government through the then Ministry of Energy and Minerals in 2012 and were known as the ‘Arusha International Gem, Jewellery and Minerals Fair (AIGJMF).
In 2014, the name of the exhibition was changed to the Arusha Gem Fair (AGF).
However, in December 2017, the government suspended the operations of international gemstone exhibitions and auctions in the country with the aim of finding better ways to manage them.
