A temporary halt in jade mining, extracting and production in Phakant —a lucrative mining area in Kachin State— thanks to inadequate regulation and weather conditions. The Myanmar Gems Enterprise issued a directive banning jade mining and extraction in response to recent disasters. The statement points out recent collapses and landslides resulting in deaths and damages […]
No takers for gem-trading licences
June 13, 2019 by
No one has applied for licences to trade raw and finished gems at Mandalay’s Kyauk Wine gem market, where thousands of people trade daily, said U Maung Maung Shein, deputy general manager of Myanmar Gems Enterprise (Mandalay). Under the gems law, merchants can apply for three kinds of licences, and no one has applied for […]
Parliament passes gemstone bill amid criticism
February 15, 2019 by
Myanmar’s parliament has passed a controversial bill governing the gemstone sector, paving the way to restart the licensing of mining companies after a two-year moratorium. Upon taking office in 2016, the National League for Democracy-led administration suspended issuing new or extension of existing gemstone licences pending a governance review intended to clean up the sector. […]
Govt coffers held back by SOEs: EITI
February 7, 2019 by
A representative of the Extractive Industries Transparency Initiative (EITI) said Myanmar’s government fails to understand the severity of how the so-called Other Accounts of state enterprises are holding back the country’s development. EITI will be organising a workshop on reforming state-owned enterprises (SOEs) engaging in this sector will be held mid-February, according to EITI trilateral […]
Expiring mine permits should be renewed under new gemstone policy: insiders
February 1, 2019 by
Mining permits for some 1000 jade and gemstone blocks across Myanmar will expire this month, according to the Ministry of Natural Resources and Environmental Conservation (MONREC). Half the mines are located in Hpakant and Lone Khin and operated by Myanmar Imperial Jade Company, while a third are in Maw Lu- Maw Han, by Chaow Brothers […]
Representatives call for review of SOE law
September 13, 2018 by
Representatives of Parliament have urged lawmakers to review an existing law under which the government must bail out loss-making State-owned enterprises (SOEs) with public funds. A total of 17 out of the 26 Myanmar SOEs under the Union budget are expected to turn a profit in 2018-19, commencing October 1, according to the Ministry of […]
Sales of €300 Million Expected from Mid-Year Gem Emporium
November 15, 2017 by
A mid-year gems emporium will be held in December of the current fiscal year, with sales of around €300 million expected, U Than Zaw Oo, vice-chair of the Emporium Management Committee, told The Myanmar Times. The emporium will be held at Mani Yadanar Jade Hall in Nay Pyi Taw for 10 days from December 12 to […]
Jade sector ranked 83rd among 89 countries assessed
June 29, 2017 by
An institution that ranks countries rich in natural resources has given failing or poor marks to the governance of Myanmar’s gemstone and oil and gas sectors. The 2017 Resource Governance Index assesses how a country manages their oil, gas and mining resources in order for all people in a resource-rich country to benefit. Myanmar’s gemstone […]
