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Roundup: Special gem sale begins in Myanmar (2) |
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14:50, July 05, 2007 |
Myanmar, a well-known producer of gems in the world, boasts ruby, diamond, cat''s eye, emerald, topaz, pearl, sapphire, coral and a variety of garnet tinged with yellow.
To develop gem mining industry, Myanmar enacted the New Gemstone Law in 1995, allowing national entrepreneurs to mine, produce, transport and sell finished gemstone and manufactured jewelry at home and abroad.
Since 2000, the government has started mining of gems and jade in joint ventures with 10 private companies under profit sharing basis.
The country will grant 319 more new unexplored jade mining blocks in Kachin state ''s Moenyin and Sagaing division''s Khamhti for engagement by local entrepreneurs in a bid to promote jade production in the country, an earlier report said.
There are six mining areas in Myanmar under gem and jade exploration, namely Mogok, Mongshu, Lonkin/Phakant, Khamhti, Moenyin and Namyar.
Jade sale stands as one of Myanmar''s major foreign exchange earning undertakings, becoming the fourth largest export earning sector in the fiscal year 2005-06 with 205.47 million dollars, according to statistics.
[1] [2] [3]
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