Jade prices in Myanmar halve as demand dwindles amid COVID-19

Jades sales have taken a hit as a result of poor demand from China in the wake of COVID-19 and prices of the green mineral have halved in recent months, local gems traders said. “Demand from China has fallen. We understand that the Chinese government does not encourage investments or trade in this area,” said […]

Myanmar to hold gems, jade sales in local currency next year

YANGON, Dec. 10 (Xinhua) — Myanmar has planned to hold gems and jade sales in local currency Kyat in capital Nay Pyi Taw in January next year, said a release from Myanma Gems Enterprise (MGE) on Tuesday. Scheduled to be held on Jan. 2 to 7 next year, the gems and jade sale is organized […]

Phakant jade mining temporarily put on hold

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 […]

In China, jade sales enter the era of livestreaming

Wang Qing was clearly unhappy with the amount being offered for a rock that might contain high-quality jade. Speaking into his phone during a livestream auction in Ruili, a city in Yunnan province on China’s border with Myanmar, he said: “7,000 yuan (RM4,228)? For this? Before you offer a second price, friend, please take a […]

Illegal jade trade still thriving despite mining suspension

Myanmar jade is still being smuggled across the border to China in large quantities despite the government having suspended new licences for two years now, U Zaw Bo Khant, vice chair of the Myanmar Gems and Jewellery Entrepreneurs Association said at a gems forum last week. That implies the existence of a large and illegal […]

New labour law paves way for worker safety standards

Myanmar’s parliament has enacted the Occupational Safety and Health (OSH) Law to promote safe and secure working environments for labourers and workers. The new law, signed by President U Win Myint on March 15, is expected to pave the way for the first legally-established health and safety standards in the country. It stipulated that OSH […]

Frontier Markets Investment Portfolio: A Mining Site in Northern Myanmar

Asia Frontier Capital’s Regional Investment Analyst Scott Osheroff recently traveled to northern Myanmar to visit the mine site of one of its portfolio companies. Myanmar – Liberalization begins to unfold The National League for Democracy (NLD) seems to have potentially finally come to the realization that the economy is suffering and therefore that their party […]

Parliament passes gemstone bill amid criticism

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. […]

Invitation for Open Tender, Fifty-Sixth Myanma Jade & Gems Emporium 2019

The significant Fifty-Sixth Myanma Gems Emporium will be held on March 11 to 20 , 2019 at Maniradana Jade Hall in Nay Pyi Taw. Rough jade, rough gems, cut and polished gemstones, jewelries, jade carvings , gold and silver wares and gemstone pictures will be sold in Euro currency at the Emporium. Gems lots and […]

Reform of extractive state businesses delayed

The reform of Myanmar’s opaque and powerful state-owned enterprises (SOE) has been delayed for over a year due to sensitivity surrounding the industries. A public debate in Mandalay to reform Myanmar’s state-owned enterprises engaged in the extractive sectors was held under the work programme of Myanmar Extraction Industries Transparency Initiative (EITI), according to Department of […]