Tanzania Diamond Export Hits a Record High of $63 Million

Tanzania Diamond Export Hits a Record High of $63 Million

Tanzania’s diamond exports hit a record of $63.1 million (Sh147.46 billion) in the 11 months to November 2022, the Bank of Tanzania has revealed, a very sharp rise from the $8.4 million (Sh19.63 billion) that was recorded in the year to November 2021.

The rise was attributed to the country’s diamond producer Williamson Mines which is currently under suspension.

The company belongs to the parent company Petra Diamonds, which owns 75 per cent of the company, and the Tanzanian government owns the remainder.

The mine is an open pit located on the 146-hectare Mwadui kimberlite pipe, one of the world’s largest economic kimberlite.

However, the production at Williamson has been temporarily suspended – following the breach of one of its tailing storage facilities on November 7, 2022.

It was reported that the flooding of the muddy waters affected about 115 citizens of Ngw’wanholo village, Mwadui Lohumbo ward in Kishapu District.

According to Petra’s official statement, production at the Williamson mine will resume in the 2024 fiscal year.