Tuesday, 01 September 2026 · World
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EUROS The World Financial Report
Nº 52 Tuesday, 01 September 2026 · World Edition
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Tanzania’s Mining Model Is Starting to Pay Off

Oilprice.com · 1h ago · 🇺🇸 United States
Tanzania’s Mining Model Is Starting to Pay Off

In 1967, a Maasai herder called Jumanne Mhero Ngoma stumbled across a clump of unusual violet crystals in the Mereli Hills near the Tanzanian city of Arusha. For his discovery, Ngoma was awarded 50,000 shillings – about $22 in today’s money. However, the rights to sell the mineral were awarded to Henry B. Platt, vice president of the American jeweller Tiffany and Co and the great-grandson of its founder, Louis Comfort Tiffany. Platt named the stone ‘Tanzanite’ and boasted in a marketing campaign that the jewel could only…

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