Deposit rate reduction on gem purchases underway

Preparations are being made to scale down the euro deposit rate for gems purchased at the 54th Myanmar Gems Emporium in Nay Pyi Taw in order ease the purchase process, said U Tun Hla Aung, the secretary 2 of the Myanmar Gems and Jewellery Entrepreneurs Association to Myawady newspaper. For jade transactions, international traders have […]

Ruby miners leave Mogok as Chinese demand plummets

Traders in ruby-rich Mogok, Mandalay Region, have traditionally relied on custom from Chinese buyers, but over the past year businesses has become slower and slower, leading many miners to pack up and move to the quartz mines in Tanai township, Kachin State. The lacklustre market looks likely to continue at least until early next year, […]

Record Haul in Jade Sales to Burmese Traders

YANGON — Jade sales at a major gems emporium for local traders in Myanmar hit a record high this week, a spokesperson for the Myanma Gems Enterprise sales committee told The Irrawaddy on Tuesday. Min Thu, the assistant director of the Myanma Gems Enterprise sales committee, said jade sales totaled 126 billion kyats (US$126 million), […]