GemeWizard
Home|About Us|Store|Color Report Newsletter|Support|News & Events|Contact|Gemstones Colors

Gemstones Colors and Prices



         


   

      Gemewizard archive daily article








  Burma looks to increase gem output, although U.S. sanctions still not relaxed


March 19, 2013


The Ministry of Mining of Myanmar (Burma) has announced that new gem mining permits in Mogoke, Mineshu and Nanyar Sate will be issued at $1,167 per gem mining block, while permits for old jade mine blocks that expired during January, February and March will be soon be renewed.

This suggests an increase in mining activity in this mineral-rich country, but for the meantime at least gemstones will not be heading toward the United States. On February 22, the Office of Foreign Assets Control at the U.S. Department of the Treasury issued General License 19, which authorized additional U.S. economic activity in Burma, but does not cover the importation into the United States of jadeite or rubies mined in Burma, or of articles of jewelry containing jadeite or rubies mined in Burma.

But there has been a significant relaxation of the sanctions regime. General License 19 furthers the process, enabling individuals, companies and financial institutions to conduct most transactions - including opening and maintaining accounts and conducting a range of other financial activities.

Speaking to the Burmese parliament at the beginning of the month, the country's deputy minister for foreign affairs, Zin Yaw, said that the Government of Myanmar will lobby for the repeal of U.S. legislation banning gem traders from exporting to the United States.

"Repealing a law in the U.S. is a step by step process that includes political, legal views as well as methodology. Our government, and the Ministry of Foreign Affairs, is constantly asking that all the sanctions imposed on our country be lifted," he stated.

The United States' hardline attitude began to relax after Burmese President Thein Sein took office in March 2011, and soon after released political prisoners, including the Nobel Peace Prize laureate Aung San Suu Kyi, who later took up a seat in parliament.

©2007 Menahem Sevdermish, GemEwizard, Inc. All Rights Reserved. Designed by YCS - Yahalom Creative Solutions