Tanzanite One Shut Down?

Tanzanite One Shut Down?

Here at Moriarty's Gem Art, we like to be abreast off all the latest new dealing with Tanzanite. Well a story just came out yesterday that Tanzanite One, one of the biggest mining companies in Tanzania, as well as the biggest supplier of Tanzanite, has been shut down by the Tanzanian government.

This shutdown was supposedly due to Tanzanite One breaching the rules and not paying wages to workers that were owed. The government is saying over 700 workers for this company have not been paid salaries for over 22 months. The company has been ordered to pay all salaries owed over the next three months. 

Tanzanite One is saying that their company had been facing financial difficulties over the last year and that is why they weren't able to pay their workers for some of the time they were working. Tanzanite One told the Tanzanian government that a new shareholder might be coming aboard, which would help. Tanzanite One also said that they expected to pay the workers within the next two months.

Now it seems like this just happened, but some other reports suggest that Tanzanite One has been shut down for quite some time, but that was never released to the public.

Now we don't know the affect this can have on the Tanzanite supply, but having the largest mining company in Tanzania shut down means supply could be low. Here at Moriarty's Gem Art we still have an excellent collection and Steve Moriarty has many contacts in Tanzania where he gets his Tanzanite, plus he travels there on his own to buy. So if you are in search of Tanzanite, let us see how we can help!

Thank you,

Jeff Moriarty