Despite repeated protests in the country, world's most precious gems and jade are to be put on sale in Myanmar next month. The event, due on November 7, will be the fifth auction of this year.
Bidders coming from across the globe spend as much as US $100 million, which means a lot to the underdeveloped economy of Myanmar. The forthcoming sale of gems has met with severe criticisms and violent demonstrations, forcing Government to use repressive measures that has killed more than 13 protestors.
Astonishingly, nearly 90 percent of the world's rubies come from Myanmar and the country's large deposits of Jade are highly esteemed. Auctioning is believed to hamper the black marketing of these valuable gems to Thailand. Moreover, jewelers in America have also asked US Congress to prohibit the sale of any stones coming from Myanmar.
Over the years, Myanmar has been exploited for its pigeon blood rubies (considered finest in the world), sapphires and other rare gems. China, the largest customer for Myanmar gems, has also been a regular consumer of emerald green jade.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
