Gems Emporium Expected to Attract US and EU Traders

RANGOON — More Western jade traders are expected to attend to the upcoming Naypyidaw Gems Emporium, after the lifting of US economic sanctions last month. Among the American restrictions which were lifted was a longtime ban on transactions involving jade, gems and jewelry from Burma. The move by the US government—announced in September—was criticized by […]

Government Fixes Price for Massive Jade Stone at US$6 Million

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 […]

Gems Traders in Mandalay to Protest Decline in Jade Market

Gems traders in Mandalay plan to hold a protest tomorrow, calling on the government to take action to bolster the region’s slumping jade market. According to U Than Win, one of the protest’s leaders, the market for jade in Mandalay has been in decline for almost three years and now many traders are finding it difficult to […]

Taxation Rate for Jade Mining Blocks Likely to be Reduced by Half

The rate of taxation levied on jade mining blocks could possibly be reduced by half, subject to ongoing negotiations, said U Myint Pe, Yadana Thein Gay Har Company from Kani area. Jade mining companies have to pay taxes after the extracted jade stones are appraised. The companies and authorities are in discussions about the possible […]

Licenses for over 300 mining blocks in Lonekhin, Hpakant to expire in September

A total of 321 mining blocks in Lonekhin, Hpakant will expire next month, it is learnt from an announcement released by Myanmar Gems Enterprise under the Ministry of Mines. The blocks in Lonekhin, Hpakant were granted a work permit for five to seven years whereas 83 blocks in Kannee were permitted starting in 2011. Similarly, […]

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 […]

Traders Call on Govt to Support Jade Market

RANGOON — Jade traders in Mandalay have collected signatures to accompany a proposal requesting government support for a better jade market, they told The Irrawaddy on Friday. As Burma’s jade market began to decline last year, traders called on the country’s leadership to address the market situation. On July 12, traders in Mandalay initiated a […]

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 […]

Local mining applications delayed by new gemstones law

New concessions to explore gem-rich areas in upper Myanmar will not be granted until by-laws to the Myanmar Gemstones Law have been passed, which is unlikely to happen under the outgoing government, officials from the Ministry of Mines said. The ministry asked local companies to submit applications to explore mining blocks in Kachin State, Shan […]

Burmese-Only Jade Sale Pegged for December

RANGOON — The Myanmar Gems Enterprise will hold the year’s first and only jade sale exclusively for local traders in Naypyidaw this December, with industry players hoping to see more purchases of raw jade and jadeite made with value-added intentions. In Thursday’s state-run newspapers, the Ministry of Mines’ Myanmar Gems Enterprise announced that the central […]