New York — TANZANIA has taken centre stage in the global luxury gemstone market after Indian billionaire Sudha Reddy showcased a rare tanzanite necklace valued at over 15m US dollars (about 39bn/-) at the Met Gala 2026.
The event, held on May 4 at the Metropolitan Museum of Art in New York City, saw the 47-year-old businesswoman step onto one of the world's most prestigious fashion stages wearing the striking piece featuring a rare 550-carat gemstone known as the "Queen of Mererani."
Sourced from the Mererani Hills, the gemstone highlighted Tanzania's position as the sole producer of Tanzanite, drawing global attention to the country's high-value mineral resources.
According to information from the Ministry of Minerals, the appearance sent a strong message about Tanzania's potential in the global gemstone market, with tanzanite continuing to stand out as one of the world's rarest and most distinctive stones.
Moreover, analysts say the showcase underscores the growing role of the mining sector as a driver of economic growth, innovation and national identity, positioning Tanzania as a key player in the international luxury minerals trade.
