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July 05, 2020

Over 300 tons of jade from Phakant to be displayed at Gems Emporium

Jades from Phakant displaying at Gems Emporium.  Photo: MNA

Over 300 tons of jade cut from the same stone that was discovered in Hpakant, Kachin State will be showcased at Gems Emporium, said U Min Thu, the secretary of Myanmar Gems Enterprise.
“The weight of the massive jade stone was estimated to be more than 200 tons at the time of discovery. The stone has since been cut into several pieces and has finally been properly weighed at over 300 tons. Currently, local and foreign experts are making necessary inspection assessments and then we will try to sell that jade stone as soon as possible,” he added.
The jade stone was unearthed in October, 2016 at Mat Lin Chaung mine, which is jointly operated by the Ministry of Natural Resources and Environmental Conservation and the Yandanar Taung Tann Gems Company.
Preparations to display the jade, which are in large pieces, are being done at a very fast pace, organisers said.
“Currently, we are polishing the jade stone. We have not had enough time to make it ready to showcase the stone at the Gems emporium, which will be held in December. Another problem is that it needs to be carried under the sufficient guard of security vehicles. Moreover, we have to observe the market situation”, said U Min Thu. As it is so huge, we had to bring in the foreign experts to assist in estimating the price, it is learnt. The quality of the jade stone is classified into five levels such as A, B, C and etc.
At present, the stone is being stored in a warehouse which is 15 acres wide in Nay Pyi Taw, under tight security. The stone is currently valued at over Ks 10 billion. The government has collected over Ks 2 billion as extraction tax from this stone.
The profit will be shared between the government and the Yandanar Taung Tann Gems Company. The government will get 25 per cent and the company will get 75 per cent.


By Ko Moe


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