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The jade trade in Myanmar consists of the mining, distribution, and manufacture of jadeite—a variety of jade—in the nation of Myanmar (Burma). The jadeite deposits found in Myanmar's northern regions are the source of the highest quality jadeite in the world, noted by sources in China going as far back as the 10th century.
Gemstone mining was nationalised in Burma following the 1962 Burmese coup d'état.In 1976, the Burma Gems Corporation was established to mine and market gemstones. [4] It was renamed the Myanma Gems Enterprise in 1989, after the 8888 Uprising.
The 2023 Hpakant jade mine disaster occurred on August 13, 2023, when the Hpakant Jade Mines experienced the third documented landslide in the area. [1] Hpakant is located in Kachin, Myanmar . The landslide killed 32 people when tailings (mining waste) swept the miners into a nearby lake. [ 2 ]
Myanmar produces about 90% of the world's jade, large quantities of which are sold in China. The industry is worth billions of dollars each year to Myanmar's ruling military and business allies ...
A landslide at a jade mine in northern Myanmar left more than 30 people missing, and a search and rescue operation was underway on Monday, a rescue official said. The leader of a local rescue team ...
Looking down a rubble slope at a jade mine in Kachin State. Myanmar is the largest supplier of jade, [1] providing between 70% [2] and 90% [3] of the world's supply. While Myanmar's official statistics for 2016–2017 put the jade trade value at US$750 million, [4] independent estimates that include illegal mining put it at US$15–31 billion per year.
The jade industry in Myanmar generates estimated annual revenues of US$31 billion. [6] It is presently unclear which companies are responsible for the waste dump, although it is known that prior to the 2015 democratic election, many of these were controlled by the military leadership of the country, leading to questionable safety practices and corruption. [6]
The CME FedWatch Tool, which measures market expectations for Fed fund rate changes, projects a 87% chance the Fed will cut rates by a quarter percentage point to a range of 4.25% to 4.50% at its ...