In Summary

Speaking here, the ministry’s acting deputy commissioner (Economic and Minerals Trade docket), Mr Godleader Shoo, said the auction was in line with the government’s efforts to deal with mineral smuggling.

Manyara. The Energy Ministry will on October 15 auction raw and processed Tanzanite owned by TanzaniteOne, Franone, Glitter Gems Ltd and Classic Gems.

Speaking here, the ministry’s acting deputy commissioner (Economic and Minerals Trade docket), Mr Godleader Shoo, said the auction was in line with the government’s efforts to deal with mineral smuggling.

“We are doing all these to encourage them to sell their minerals in the country at a competitive price that matches that of the global market,” noted Mr Shoo.

He said the auction would involve local and foreign buyers in an effort to ensure that minerals were benefitting both local stakeholders and international buyers.

He said the exercise would be held in a transparent manner and wouldinvolve miners, buyers, State Mining Corporation (Stamico), security and safety organs, Tanzania Revenue Authority (TRA), Simanjiro District Council and the ministry of Energy.

This, according to him, would help both buyers and sellers to get their rightful dues.

“As long as the auction is conducted transparently, the government will also stand a chance ofgaining the right royalties and other forms of taxes from mining firms in a transparent manner,” said Mr Shoo.

Such actions are also held in countries with valuable minerals such as Zimbabwe and South Africa (producers of diamond) and Zambia (producer of Amerald).