Breaking News

Tanzania miner pockets $3.4m for two gemstones

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.

(AP)

Albert Echetah

Recent Posts

‘Pregnant’ for 15 Months: Inside Nigeria’sDisturbing Fertility Scam Network

A recently uncovered scam from Nigeria’s Anambra state has some women falling preyto “cryptic pregnancy” con. BBC investigation has revealed…

November 25, 2024

President William Ruto Launches University of Nairobi’s Silicon Savannah Innovation Park

The University of Nairobi's Silicon Savannah Innovation Park was launched at State House inNairobi by President William Ruto. The aim…

November 25, 2024

Newcastle vs West Ham: KeyPredictions for Today’s Clash

The Newcastle vs West Ham match is taking place today in Newcastle, England at St James'Park stadium. The match will…

November 25, 2024

Tanzania Opposition Leader Freeman Mbowe Released On Bail

The leader of Tanzania's main opposition party, Chadema, Freeman Mbowe, has been released on bail after being arrested on Friday,…

November 24, 2024

Four UAE Convoys Deliver Essential Aid to Gaza’s Struggling Communities

This week, four aid convoys carrying various forms of humanitarian supplies from the United Arab Emirates crossed the Rafah Border…

November 23, 2024

Rising Tide of Climate Change Protest: Arrest took place Amid Coal Export Demonstrations

Hundreds of demonstrators took to Newcastle's harbour in canoes and kayaks for a climate protest which resulted in several arrests.…

November 23, 2024

This website uses cookies.