Songea. The establishment of official mineral markets alongside the implementation of an indicative pricing system in the Ruvuma Region has significantly reduced mineral smuggling, boosted government revenues, and enhanced profits for small-scale miners.
Ruvuma currently operates two official mineral markets: the Songea Urban Gold and Gemstone Market, and the Tunduru Gold and Gemstone Market.
The latter was officially inaugurated President Dr Samia Suluhu Hassan, on September 26, 2024.
The Ruvuma Resident Mines Officer, Mr Alphonce Bikulamchi, stated that this success stems from government-led improvements in regulating the mineral trade through transparent and competitive official markets.
He noted that prior to the establishment of these hubs, some miners lacked formal venues to sell their commodities.
This deficiency fueled informal trading and smuggling, which deprived the government of revenue and forced small-scale miners to sell their minerals at unprofitable rates.
According to E Mr Bikulamchi, miners now receive accurate information regarding indicative prices for their minerals.
This development has enhanced transparency, eliminated loopholes for fraud, and built greater trust within the mineral trade.
Furthermore, the presence of both local and international buyers in these markets has stimulated price competition, enabling miners to sell their products at fair market value.
The government intends to continue improving the mineral trading environment by strengthening market oversight and providing education to miners.
This ongoing strategy aims to ensure the sector continues to contribute effectively to national economic growth and community development.
Mr Bikulamchi concluded that these measures have successfully integrated small-scale miners into the formal economy while establishing robust controls against the illicit trafficking of minerals across the Ruvuma Region.
