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The gemstone discoveries in East Africa in the 1960’s transformed the jewelry world. No gemstone discovered in East Africa has had more of an impact on the world gemstone market than tanzanite, which was first introduced in 1969.
Even with its popularity and availability at this time, tanzanite is supremely rare, coming from only one place in the world, the Merelani Hills of Tanzania, in the shadow of Mount Kilimanjaro.
Recent developments at the tanzanite mines are tragic and promise to drive the price of tanzanite much higher. Severe flooding in the largest gem producing area of the tanzanian mines caused severe cave-ins and over 100 lives were lost. Because of the now unsanitary conditions remaining miners are reluctant to resume operations.
Governmental challenges, flooding, hard mining limitations, and tremendous popularity have now created a worldwide shortage of tanzanite. Prices seem poised to go much higher.
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