Myanmar: Jade Sales Fall Flat amid Fighting in Kachin

Jul 15, 2015 | Democratic Voice of Burma
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The annual gems emporium in Naypyidaw has ended on a low, with jade sales down 63 percent, a decrease blamed on ongoing armed conflict in Kachin State. Proceeds fell from last year’s record figure of US$3.4 billion to just $1.26 billion, as mining operations were interrupted by renewed clashes between the Burmese military and the Kachin Independence Army. This year, the precious stone made up almost 90 percent of the auction’s sales, and 80 percent of total proceeds in 2014.