RANGOON — The price of a massive unearthed giant jade stone in Hpakant Township, Kachin State, has now been fixed by the government’s Myanmar Gems Enterprise as worth around 7 billion kyats (around US$6 million). The 210-ton stone was discovered on Oct. 10 at Yadanar Taung Tann Gems Company’s mine, which is operating in a […]
Mandalay trader petitions for mining halt
August 18, 2016 by
A Mandalay trader is circulating a petition calling for an immediate but temporary halt to jade mining and a revamp of export procedures, warning the Mandalay market could be headed for disaster if business continues as usual. The petition will shortly be submitted to a Regional and Union-level officials, with its main backer hoping it […]
Over-Extraction, Chinese Slowdown Blamed for Jade Price Slump
June 21, 2016 by
RANGOON — With the government’s biannual gem emporium looming at the end of this month, prices for Burmese jade have continued to slide against weakening demand. Industry insiders have blamed an economic slowdown in China, over-extraction in jade mines, and market uncertainty linked to the transition of power to a democratically elected government in Burma. […]
Myanmar gem firms say $138m ‘missing’ from industry fund
June 7, 2016 by
YANGON (AFP) – An embezzlement probe has been launched after nearly US$100 million (S$138 million) vanished from a fund set up by Myanmar’s gem companies, a trade body said on Thursday (June 2), raising corruption fears in an industry notorious for its shady dealings. Mining – especially for jade – was firmly in the hands […]
Senior officials implicated in Myanmar jade probe: official
March 7, 2016 by
Two senior Myanmar officials were purged from their posts this week after an investigation over corruption in the country’s multi-billion-dollar jade mining industry, authorities said Friday. Yangon – Two senior Myanmar officials were purged from their posts this week after an investigation over corruption in the country’s multi-billion-dollar jade mining industry, authorities said Friday. The […]
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