The government of Tanzania is expected to raise its gross revenue royalty fees on diamonds from 5% to 6%, East African Business Week Reports. The state is currently in negotiations with mining companies to raise royalty payments on all mineral exports.

According to the Kimberly Process figures for 2010, Tanzania produced 70,753.46 carats of diamonds worth $13,142,495.01 with an average per-carat price of $185.75.

In addition, Tanzania is seeking to increase its gold export fees. Tanzania is the third-largest producer gold in the world and has seen its annual export on gold triple to $1.5 billion. However, the government's revenues have not reaped the benefits, remaining at around $100 million.

The new policy, which raises gross export value on gold to 4%, is meant to include the mining sector in the country's national revenue.