By ADAM IHUCHA--
Tanzanians
now have a reason to smile, thanks to a
global and local leading gemstone companies for pumping millions of shilling
in gemstone processing plant in Arusha.
The Tsh 480 million or $300,000 gemstone
processing factory, housed in the newly ultra-modern National Social Security
Fund’s Mafao house at Kanisa road, would be run as a joint venture-project by
the Diamonds International and Signature Gems of Arusha.
The world class facility with 24
high-tech gem cutting and polishing machines and 30 Tanzanian women under
intense training by the expert from Mexico, the plant could cut and refine one
thousand carat of Tanzanite gemstone a day.
Diamonds
International, the largest jewelry retailer with 140 locations in America,
Mexico, Caribbean and other part of the world, specializes in manufacturing and
selling jewels around the world, while Signature Gems is the leading local Tanzanite
gemstone dealer and supplier.
“You have touched my heart. This world
class gem facility is going to be a beginning of a long journey to make Arusha
the Africa’s hub for gemstone trade,” says Mineral and Energy Deputy Minister,
Stephen Maselle who graced the grand official opening of the plant.
Mr Maselle said that Tanzania has been
dreaming of attracting investor to put up gemstone value additional facility
with an eye to create jobs for local people to benefit from their resources.
“You have our full support. We would
ensure that your operations are done smoothly. This investment worth emulation
by others” he said, praising both the Diamonds International and Signature Gems
companies for their bold decision.
The Chairman and CEO of the Diamonds
International, the World rated largest Tanzanite Buyer Company, billionaire
Morris Gad, said he owes Tanzanians support.
“You have my commitment. This is going
to be the beginning as we are planning to create hundreds of jobs for women in
manufacturing jewelry” Mr Morris said, amid applause from the floor.
He said that his company believes
in giving back to the community where it sources the raw materials.
“We have to give back. We are behind
Tanzania and her people, we need to support you…and we will support you,” the
tycoon Morris said.
The 2010 mining Act, among others,
forbids the export of rough tanzanite gemstone, compelling global jewel traders
to start bringing capital in a bid to source the raw material locally.
The ultra-modern-plant is anticipated
to turn Arusha into the largest gemstone producer and exporter in the near
future.
Managing Director of Signature
Gems, Sailesh Pandit said the joint venture factory was one of their efforts to
back the government drive to make Tanzanite gemstone contribute immensely in
economic growth.
“I am very grateful to my partner, Morris Gad for walking his promise made last year that he would come back and invest heavily in the country to create employment and stimulate economic growth” Pandit explained.
“I am very grateful to my partner, Morris Gad for walking his promise made last year that he would come back and invest heavily in the country to create employment and stimulate economic growth” Pandit explained.
Reports indicate that mineral exporters have been under
declaring volumes of gemstones in the country—particularly Tanzanite gemstone,
whereas the world market shows clearly there was more Tanzanite coming out of
the Tanzania than the official figures show.
For instance, official figures show that in the year 2000, Tanzania earned merely $12 million from Tanzanite exports – but the actual value of the gemstone traded at the world market was over $150 million.
The United States Ministry of Commerce in the same year spent nearly $328 million on Tanzanite purchases exported from Tanzania.
Other studies have it that Tanzanite sales in the America alone are worth more than $400 million a year, which means nobody knows exactly how much Tanzanite, is being smuggled out of Tanzania.
For instance, official figures show that in the year 2000, Tanzania earned merely $12 million from Tanzanite exports – but the actual value of the gemstone traded at the world market was over $150 million.
The United States Ministry of Commerce in the same year spent nearly $328 million on Tanzanite purchases exported from Tanzania.
Other studies have it that Tanzanite sales in the America alone are worth more than $400 million a year, which means nobody knows exactly how much Tanzanite, is being smuggled out of Tanzania.
I would not recommend shopping at Diamonds International.
ReplyDeleteWe paid over $14,000 for a ring that was retailed at $20,388. When we got it appraised by a NAJA certified member, he came back with retail price of well less than $14,000. We have tried to return the ring, but policies won't allow us to. We were lied to about the retail cost of the diamond, and greatly overcharged!
Poor business ethics and poor customer service. Stay away from this company. All they want is your money, they do not care about the customer.