Tanzania will soon start constructing the long awaited world-class mineral trading center, the country’s Minister for Energy and Minerals George Simbachawene said on Wednesday.
If all go well, the construction process is expected to start early next year, Simbachawene said in northern Tanzania’s city of Arusha when speaking at the official opening of the 4th Arusha Gem Fair (AGF).
The center, which is to be erected in the country’s tourist hub of Arusha, will be serving as one-stop center for all mineral dealings including production, transactions and exportation.
The building complex will be made possible by the Ministry of Energy and Minerals in collaboration with the Arusha International Conference Center (AICC).
Costs to establish the sky-scraping building with helicopter pads, banking and insurance institutions, mineral cutting and polishing factories, auction centers and exhibition halls are estimated to be in terms of billions of dollars but once completed and the center is projected to save more revenues for the East African nation.
“This center will provide reliable local markets for diamonds, gemstones and gold,” the minister said, adding that the proposed “Mineral Trading Center” will also be facilitating technical support to the industry, safe custody of minerals, banking and custom services, and transfers of gemstones from the city center to Kilimanjaro International Airport by helicopters to ensure safe passage for buyers, dealers and their minerals.
AICC will take care of land and possibly construction of the proposed giant complex.
The mineral trading center is said to be the ultimate antidote in solving increasing cases of gemstones smuggling which is costing the country billions of shillings annually.
The country’s commissioner for Minerals Engineer Paul Masanja said the government was working with all parties involved in the Tanzanite business to ensure that gemstones dealers and other investors add value to the gemstones mined in the country.
“We are emphasizing that all foreign buyers should buy only clean and authentic Tanzanite which has been procured and exported legally from the country with a certificate of origin,” he said. Enditem
Source: Xinhua
