Business

Myanmar puts off special gem sale

English.news.cn   2012-06-09 11:53:41            

YANGON, June 9 (Xinhua) -- Myanmar has put off the holding of its annual special gem sale in August following the suspension of jade mining in Pha-Kant, northernmost Kachin state, local media reported Saturday.

Jade mining has been halted by the government since the end of May as armed clashes are still going on in the state.

After the suspension, mine workers there have returned to their hometown.

During the clashes, hundreds of jade mining companies had to pay large sum of tax to the Kachin Independence Army, according to earlier reports.

There are about 400 companies with 200 to 2,000 workers, exploring jade in the Pha-Kant area.

In the April 1 by-election, polling in three constituencies including Pha-Kant township was canceled as insecurity prevailed there, said the Election Commission.

Myanmar's special gems emporium was held in July last year at the Mani Yadana Jade Hall in Nay Pyi Taw, fetching 1.5 billion U.S. dollars.

Myanmar started to hold gem shows annually since 1964. Since the introduction of the mid-year show in 1992 and the special show in 2004, the gem emporium has become a thrice event annually.

The latest official figures show that in 2010-11, Myanmar yielded 46,810 tons of jade and 12.962 million carats of gems which include ruby, sapphire, spinel and peridot, in addition to 275,688 mommis (1,033 kilograms) of pearl.

Editor: Deng Shasha
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