Last updated on September 11th, 2021 at 02:41 pm
A small-scale miner in Tanzania has become an overnight millionaire after unearthing two of the biggest rough tanzanite gemstones ever found.
Tanzania’s government bought the book-sized stones weighing 20 pounds (9 kg) and 11 pounds (5 kg) from miner Saniniu Laizer for $3.4 million.
Minerals Minister Doto Biteko said on state television Wednesday the government is buying the rare minerals for preservation.
“We’re signing agreements today in public to facilitate the cash transfer … and the government recognizes Laizer is a new billionaire,” he said, speaking in terms of the local currency.
Laizer said in a televised interview he plans to open a shopping mall and a school for his community. “The money that I have received today, I will allocate it to more development activities,” he said.
Tanzania is a rich country, President John Magufuli said when congratulating him. Tanzanite is found only in the East African country.
Mining activities accounted for 17% of the East African country’s GDP in 2019. Magufuli’s administration has imposed reforms that seek to curb smuggling and increase revenue collection in the sector.