More private companies cooperate with Myanmar gov't in mineral extraction (3)

For the development of gem industry, Myanmar has been holding gem shows annually starting 1964 and introducing the mid-year one since 1992 and the special one since 2004. On each occasion, the country's quality gems, jade, pearl and jewelry worth of millions of dollars were put on sale mainly through competitive bidding.

In the 47th annual Myanmar gems emporium held in Yangon in March this year, a total of 7,000 jade lots along with other gems, jewelry and pearl lots were displayed, attracting about 6,000 foreign gem merchants.

A total of 400 million euros were earned from the emporium.

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.

The authorities designated the proceeds from the sale of gems at these emporiums as legal export earning to encourage the private sector in the development of the gem industry. The government's Central Statistical Organization revealed that in the fiscal year 2009-10, Myanmar so far produced over 22,600 tons of jade and 9.5 million carats of gems which include ruby, sapphire, spinel and peridot, as well as 229,951 mommis (862.3 kilograms) of pearl.

Meanwhile, in 2008, Myanmar discovered a new large coal mine in northern part of the country's Shan state and mining of the mineral has been sought with the local private company of AAA.


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