Govt To Reinstate Auctions Of Gemstones Across Tanzania -

Tanzania’s Minerals Minister, Mr Anthony Mavunde

By Senior Reporter VALENTINE OFORO

” Within a short period of time to come we will embark on the exercise to install needed infrastructure to allow the auctions to come back to life,” Mr Mavunde detailed.

THE government has expressed plans to reinstate the local auctions of gemstones, to be held in the relevant production areas across the country.

The areas where the vital auctions will be taking place include Mirerani, Mahenge, Tunduru, Dar es Salaam, Arusha and Tanga, whereby international, it will be held in Bangkok and Jaipur in Thailand.

The useful plan which gears to improve performance of the minerals sector in the Tanzania was disclosed yesterday (Wednesday October 16,2024) in Dodoma Capital City by Mr. Anthony Mavunde, the Minister of Minerals.

Mr Mavunde disclosed the positive concern while responding to the various points raised by the members of the Parliamentary Standing Committee on Energy and Minerals in Dodoma.

The Minister said the parent ministry is currently working to finalize some necessary pending procedures for legal amendments in order to have the prestigious auctions resume in the near future.

” Within a short period of time to come we will embark on the exercise to install needed infrastructure to allow the auctions to come back to life,” Mr Mavunde detailed.

He informed, operation of international exhibitions and auctions in the country creates an important opportunity to promote gemstones produced in the country to the varied international markets.

“We’re remaining optimistic that rolling back of these auctions will play meaningful role help marketing our gemstones to the potential international markets,” Minister Mavunde observed.

Together with that, Minister Mavunde told the Committee that the plan to restore the auctions of precious metals is part to implement the instructions given by the President of the United Republic of Tanzania Hon. Dr. Samia Suluhu Hassan during the opening of the gold refinery in Mwanza on June 13, 2024.

For his part, the Deputy Minister of Minerals, Dr. Steven Kiruswa, has said: ” Currently, the experts at the ministry have gained a lot of experience in international auctions and exhibitions after learning how international businesses are conducted along with the use of modern technology in the entire chain valuable of minerals,”

He added, the experts acquired the said skills from various countries including the United States, India, South Africa and Thailand.

Previously, presenting information on the improvement and implementation of Market Management Rules and Centers, Local and International Auctions of Gemstones to the Committee, the Acting Executive of the Mining Commission, Eng. Ramadhani Lwamo said that the auctions will be conducted in collaboration with the Mining Commission and the Tanzania Commodity Market (TMX).

He added, the auctions will operate through an electronic sales system where the management will involve the activities of valuation and planning of minerals, saying the focus is to be able to get a good price according to the relevant minerals.

Eng Lwamo added that jewelry auctions will link the mining sector with other economic sectors, including Tourism and Business in the relevant period including bringing in foreign currency to the nation.

Speaking for his part, the Chairman of the Parliamentary Committee on Energy and Minerals, Dr. David Mathayo hailed the Minister of Mines and his assistants for the good work of moving the Mining Sector at the international level.