The Tanzanite Foundation, established in 2003 by TanzaniteOne, will cease operation at the end of August, according to a recent JCK report. The news was confirmed by the foundation’s executive director Hayley Henning, said the source.
Tanzanite’s declining prices, poor production, prolonged problems with illegal miners and theft were said to be among the factors leading to the final decision.
“Tanzanite is one of the world’s most precious and exotic gems, and despite being a small operation, I’m proud of our accomplishments – not only in promoting tanzanite, but in the social responsibility arena where we’ve made a huge difference to the lives of the local community outside the tanzanite mining area,” Henning told JCK.
The Tanzanite Foundation is a non-profit organization dedicated to protecting and promoting tanzanite. It acts on behalf of all ethical and socially responsible operators and partners in the tanzanite Industry and implements standardized methods of practice and conduct.
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