The government of Tanzania has given mining company TanzaniteOne the green light to export rough tanzanite bigger than five carats.
The news follows a June announcement in which the government said it would amend its mining act to prohibit exports of rough bigger than five carats. The move was meant to encourage local cutting and polishing of tanzanite.
The moratorium for TanzaniteOne on the export prohibition runs until Dec. 31, allowing the company time to research and develop local cutting and polishing facilities. The company is also looking at expanding its own cutting operations.
“I am delighted that following discussions with the Tanzanian government, the company has been granted an exemption from the export ban on rough, large gemstones, and support to establish a domestic cutting operation that will bring real benefits to TanzaniteOne,” said company chief executive officer (CEO) Bernard Olivier. “A schedule is currently being put in place that allows us to expand cutting operations, while ensuring quality of final product and global competitiveness.”
