Strategies to promulgate Tanzanite on cards

By From SYLVESTER DOMASA in Dodoma

THE State is planning to promulgate Tanzanite as its specified mineral, with the aim of adding value to the expensive gem that is found only in Tanzania. Also,the government through the Ministry concern is finalising plans to enact a law that will compel adding value to the gems before they are exported.

The new initiative was announced by Minister for Minerals, Ms Angellah Kairuki in the National Assembly, yesterday, when she tabled the ministry’s estimates for the FY 2018/19. She said the move will help the government to increase revenues from mineral exports.

Records from the ministry indicated that few months after the building of a great wall at Mirerani,revenues have increased. “This is the only mineral found in Tanzania worldwide. We want to harness on this potential and we’re finalising the process to promote it as a specified mineral,” she said.

The process is expected to be completed before the end of the 2017/18 financial year, according to the Minister. The Ministry is, however, intending to draft a new law that will compel investors to ensure they add value to gems before exportation.

Currently, the mining sector’s contribution to GDP is estimated at 3.5 per cent, although this is projected to reach 10 per cent by 2025, due to various measures introduced in the mining sector by the Ministry of Minerals.

The ministry requested the August House to endorse a 58.9bn/- budget that is slightly higher than the 52.4bn/- they received during the current financial year. Ms Kairuki revealed, however,that the ministry had only received 36 per cent of the current budget as of March, this year and an addition to just 3.8 per cent of the requested funds for development projects.

Speaking after tabling the budget,the Geita-Urban MP, Mr Constantine Kanyasu (CCM), said there is need for the Parliament to see a way in which Corporate Social Responsibility (CSR) by mining companies will be monitored because there are some shortfalls.He said the changes in the CSR laws should allow municipal procurement units to participate in the purchasing of the materials.