The Tanzanian government has directed to stop mining activities at Tanzanite One Mining Limited (TML), the world's biggest miner and supplier of Tanzanite. The government decision has come following the breach of some statutory guidelines.
More than five decades later, the Mount Kilimanjaro source near Arusha, Tanzania, is still the only place in the world to source the gem. Tanzanite is only mined in one place on Earth: Tanzania. Here miners are seen at the entrance to a mine shaft 3,280 feet deep and accessible only via a wooden ladder.
Effects of Artisanal Mining since TanzaniteOne Shut Down
In 2019, the government of Tanzania shut down operations of TanzaniteOne and built a wall around the mining area to discourage smuggling and ensure that revenue from the sale of tanzanite would benefit the Tanzanian government.
"It is very expensive to get food, torches, batteries, and medicine for such a big group of Wana-Apollo. As a result, many small tanzanite mine owners have stopped mining tanzanite because they lack funds."
Due to this unique singular event and the recent active foraging in the region, Tanzanite mines are expected to run out in the next 10 to 20 years. As our generation is the last with the opportunity to acquire first-hand Tanzanite, Tiffany & Co. has granted it the name 'The Gem of a Generation'.
Found solely in the foothills of Mount Kilimanjaro, the Tanzanite mines are expected to run out in the next decades making it a collectible asset that will continue to gain value over time. Top-grade fine Tanzanites are becoming increasingly rare, thus their value is highly interlinked with rarity.
Carat Weight - Tanzanite Prices Per Carat (Updated July 2023) Due to the worldwide pandemic a couple years ago, this caused reduced travel, prices for Tanzanite are still down about 20-30%.
Since its discovery in 1967, the violet blue stone has been prized for its color and rarity. And with deposits expected to run out in the next twenty years, this already precious stone is expected to become more valuable in the coming years.
Tanzanite has a unique niche that makes it very attractive for investment and its rarity and exclusivity makes tanzanite and tanzanite jewellery excellent investment options. It is one of the world's rarest gems, found in one place – a short area at the foothills of Mount Kilimanjaro in Tanzania called Merelani.
Alternative Gemstone Options
Lolite is a suitable substitute for Tanzanite that gives off a similar appearance.
Last year, a parliamentary committee that investigated tanzanite mining said there was massive smuggling of the gemstone. Its investigation claimed that Tanzania had received only 5.2 percent of revenues from global tanzanite trade over the past decade.
Each tanzanite is sourced ethically and under safe working conditions. Today, this precious gem creates income for a lot of people in Tanzania and has a significant impact on the economy. The purchase of each tanzanite helps contribute to the day-to-day lives of the Tanzanian people.
Cubic Zirconia, Synthetic Spinel, Yttrium Aluminum Garnet (YAG), and Glass. These imitations have also been widely used as counterfeit Tanzanite and can usually be easily distinguished as they are all singly refractive while Tanzanite is doubly refractive.
Despite the fact that tanzanites are much rarer stones than diamonds and sapphires, which were mentioned above, they have much less value in the gemstone market.
And last, but not least, Sapphire are generally more expensive than Tanzanite, especially in larger sizes. This is due to the rarity vs demand, though Tanzanite, being found in just one area of the world, could easily become much more valuable in the future.
Tanzanite. Intense violet-blue hues of tanzanite can rival fine sapphire at a fraction of the price - and it's a much rarer stone!
The most sought after color are intense blues. Any colors outside this range are less valuable and not as rare and the deep colored purple and blue Tanzanite gemstones. Unheated Tanzanite is brown in color and doesn't get it's blue and purple colors until it is heat treated.
Having said that, tanzanites with a dominant blue color are considered to be the most valuable of the lot. This is primarily because the blue variety is quite rare and is, therefore, more likely to yield a higher return (from the investment point of view).
Tanzanite is a shocking 1000 times more rare than a diamond. Discovered for the first time in 1967 and only found in the foothills of Mount Kilimanjaro, these gemstones go for about $1,500 per carat.
It is noteworthy that Tanzanites in grades SI and higher have impurities that are visible to the naked eye and are sold at comparatively lower prices.
In general, the more saturated the color of tanzanite is, the more valuable it becomes, as the demand for the deep royal blues is high. Too much saturation, however, and tanzanite can become too dark, especially in a larger gem.
Tanzanite is a relatively “soft” gemstone in comparison to say Diamond, the hardest, Sapphire or Ruby and measures 6 to 7 on the Mohs Scale. What this means is that Tanzanite can scratch over time, especially if worn on a daily basis or if worn when performing physical activity.
Having said that, when viewed under a jeweler's loupe, tanzanites usually display several inclusions. For the most accurate result, hold the stone against the light and view it through a 10x jewelers loupe. If you can't find any flaws, it could mean that your stone is a fake.
While buying tanzanite directly from Tanzania could be cheaper, it's not always the case. Your price will depend on various factors, including the dealer's overhead costs, market conditions, and the quality of the gemstone.
Buyer's Guide
Fine tanzanite's strong pleochroism and intense violet-to-blue face up colors help identify the gem and provide a large part of its value. Paler colors are more commonly found and less valued. Eye visible inclusions also cause a drop in value.