Tax exemptions on diamonds, emeralds and gold approved

The Pyidaungsu Hluttaw agreed on Tuesday to stop levying special commodity tax on diamonds and emeralds, as well as commercial tax on gold nuggets. “As those items should be exempted from taxes, Hluttaw agreed to it.” Public Account Joint Committee Member and Kayin State, Hlaing Bwe ...

Over 4000 lots of jade sold via open tender

A total of 4454 lots of raw gems and uncut jade are up for bid at the Mani Yadana Jade Hall in Nay Pyi Taw this week. The raw gemstones and jades are being sold via an open tender system from March 19 until March ...

Lifting US jade sanctions ‘a mistake’: Myanmar minister

The minister in charge of mining in Myanmar’s conflict-ridden state of Kachin says it was a mistake for the United States to lift sanctions on the country’s notorious jade industry. Kachin lies at the heart of the “jade tract”, a small area that has deposits ...

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 ...

US gems association eyes trade ties as sanctions end

The American Gem Trade Association arrived in Myanmar for the first time this week to assess the gems sector and build trade relationships ahead of an anticipated end to the US sanctions regime, which would allow the legal import of Myanmar rubies and jade. The association’s ...

Mining companies must repair environmental damage: official Print

More than 1000 jade mining companies will be forced by law to clean up their sites in Hpakant and Lone Khin mining areas in Kachin State once their permits have expired, the government says. U Win Htein, director general of the Department of Mines, under the Ministry of Natural Resources and Environmental Conservation, told The ...

New commission formed to investigate alleged gems association embezzlement

A new investigation commission will be formed to look into the Myanmar Gems Traders Association’s financial scandal, involving allegations of more than US$100 million that went missing from their bank account, according to the organization’s chairman. A previous review was conducted and finalized this week by ...

Two director generals fired after jade probe

A three-month investigation into dodgy dealings in the murky jade industry has netted dozens of government officials, with two director generals dismissed from their posts earlier this week. The President’s Office on 3 March confirmed that the director generals from two Union government ministries, as well as ...

Up to 30 feared dead in two Hpakant landslips

Deadly landslips have brought more death to Kachin State as two separate collapses in one day at the Hpakant jade mines claimed an unknown number of victims. Local residents fear as many as 30 people may have lost their lives. The first of the two landslides ...

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