Tanzania: Tanzanite-One – We’re in Step With JPM

THE Management of Tanzanite-One Mining Limited has expressed the firm’s commitment to support President John Magufuli’s initiative to ensure that tanzanite gems and other natural resources benefit the nation and was thus ready to negotiate with the State to this effect.

It says in a statement released from Mirerani, the company’s board and management expressed what they termed as ‘enthusiasm and eagerness to jointly work with the government in the spirit of good faith and transparency.’

“We at Tanzanite-One, are fully behind the initiative of our President and the local investors of the company firmly believe that by virtue of them being Tanzanians and in the name of patriotism, they owe it to their nation in ensuring that the vision of the Head of State, Dr Magufuli, becomes a reality,” reads part of the release from the Company Secretary, Mr Kisaka Mnzava.

Mr Mnzava says that as they await the proposed discussions and negotiations with the state, “the management of Tanzanite-One would like to assure the President and Tanzanians as whole that they will cooperate fully with the government and together ensure positive conclusion that will be of great value to the nation.”

While addressing the nation on the ongoing discussions between the government and Barrick Gold Corporation recently, President John Magufuli gave specific instructions to the Minister of Justice and Constitutional Affairs, Prof Palamagamba Kabudi, to start similar negotiations with those mentioned in the special parliamentary committee on diamonds and tanzanite.

On 7th September , Dr Magufuli received a special parliamentary committee report on investigations into tanzanite mining and shortly thereafter, the Head of State visited Mirerani Mining Hills on September 21, and issued specific directives relating to the reviewing of the Joint Venture Agreement between Tanzanite-One Limited and the State Mining Corporation (STAMICO).

In 2014, Mr Hussein Gonga, an Arusha-based businessman, and his partner, Mr Faisal Shahbhat, acquired 50 per cent stake previously owned by Richland Resources Limited of UK which used to run the giant mining firm in a joint venture with the State Mining Corporation (STAMICO).

Richland Resources (UK) Limited, through its CEO, Mr Benard Olivier, had announced its move to sell off its shares in the Tanzanite-One Mining Limited to the Sky Associated Group Limited, a firm owned by Mr Gonga, Mr Shahbhat and a third partner identified as Mr Ridhiwan Ullah.

Mr Gonga also owns three other mining firms Capricorn Minerals, Prima Gemstones (T) Limited, Hugo Gems as well as Hugo Investments.

His partner, Mr Faisal Shahbhat, is behind the Maruti Green Gems and Tanzanite Forever (Limited). The two Tanzanians have struck partnership with Ridhiwan Ulla, an Asian who is the name behind the International Gemstone Dealers Africa and Success Gems Limited of Hong-Kong.

Sky Associate Group Limited has thus inherited all assets, stock and liabilities estimated at 32 billion/- from Richland Resources and the new company has settled TML debts.