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Myanmar jade industry gathers dust despite China-led boom

NAYPYITAW — The jade mining industry in Myanmar, one of the world’s richest sources of the gem, is scrambling to meet rising Chinese demand, sometimes at the cost of human lives. Yet this booming trade has not translated into growth beyond the dangerous work of extraction. In fact, Myanmar’s jade processing industry has languished, mainly […]

All Remaining Jade Mining Licenses to Expire in 2018

RANGOON — The government has announced that all remaining jade mining licenses will expire in 2018, and licenses will only be considered for renewal after the completion of an environmental management plan for jade mining areas of Kachin State. With the government’s decision not to renew jade mining licenses, 310 mining companies operating in Kachin […]

Jade Sales Drop Significantly at Govt Emporium

RANGOON — Sales of raw jade at the government-run biannual Gems Emporium in Naypyidaw have been markedly lower than in previous years. Organizers have pointed to slowing Chinese demand as well as a government policy to limit sales of raw jade as a means of boosting value-added jade processing in Burma. Previously, Chinese traders would […]

Telenor’s first special auction fetches whopping MMK 4,835 lakhs (483.5 million)

February 25, 2016, Yangon – Telenor Myanmar Limited’s (“Telenor”) first public auction of special numbers today netted a total of MMK 4,835 lakhs (483.5 million), from 55 special numbers auctioned. Telenor announced earlier that all profits above the reserve price of MMK 3 million per number – in this case a total of MMK 3,183 […]