Colored Stones

Save E-mail Print Most Popular RSS Reprints

Myanmar's rubies—bloody color, bloody business

October 08, 2007

Similar Stories | Topics

The military regime in Myanmar is funded by the sale of sapphires, pearls, jade and, most of all, rubies—its biggest earner. Since 1964, when Myanmar generals began holding official sales of precious stones, they have earned an estimated $750 million.

Spurred by international outrage over the crackdown on pro-democracy demonstrations, a trade ban on gemstones is being considered by the European Union. This comes after last week’s incident where soldiers opened gunfire on protestors killing 10 people, perhaps more. In addition to the violence, mine conditions are horrendous, and the state holds a majority stake in those operations, including “Valley of the Rubies.” Rare pigeon's blood rubies and blue sapphires from the mountainous Mogok area are worth tens of thousands of dollars apiece.

Currently, a loophole in the U.S. ban on gems from Myanmar allows in stones that are polished and cut elsewhere. The sanctions are pointless since Myanmar exports the majority of its gems uncut. Some dealers in the Buddhist country Bangkok also continue to handle stones from Myanmar, despite the fact that Buddhist were among those fired on at the recent rally.
Save E-mail Print Most Popular RSS Reprints
Post a Comment
* Required field
* Author:
* Comment:
 

More Colored Stones

Richard Hughes
Ruby, sapphire expert Hughes wins Bonanno award

Richard W. Hughes, known for his adventure-laden travelogues, his writings on undisclosed gemstone treatments and as the author of Ruby and Sapphire, has won the 2010 Antonio C. Bonanno Award For Excellence in Gemology, the Accredited Gemologists Association has announced. Read More

'Vivid Pink' up for sale at Christie's
Price is right for pearls this holiday
More Colored Stones

More Like This

Thai government urging gem traders to follow rules
February 23, 2009 | National Jeweler Network
Customs clarifies rules on banned Burmese gems
January 26, 2009 | National Jeweler Network
Finding Burmese jadeite substitutes
January 11, 2009 | National Jeweler Network
Burmese rubies banned
October 15, 2008 | National Jeweler Network
Feds set grace period for non-Burmese gemstones
October 06, 2008 | National Jeweler Network
TOPICS
Protests and Demonstrations

Design Portfolio

advertisement

Video

Small multi video player located on right rail of NJN site

advertisement

Sponsored by:

Retailer Toolbar

America's Best Jewelers
Join the ONLY Social Network for Jewelry Retailers. Get access to expert content, peer best practices, and more.
Start networking today.
Newsletters
Newsletters
Topic-specific newsletters that deliver the latest news on jewelry, diamonds, wholesale operations and high-volume buying directly to your in-box.
Reader Connect
ReaderConnect
Supplier information presented with every article, bringing you related, actionable content on every topic.
Jewelry Yellow Pages
Yellow Pages
A comprehensive listing of associations, organizations, suppliers and services for the jewelry industry.
Classifieds
Classifieds
A comprehensive listing of job postings, product offerings and other materials for sale for the jewelry industry.
NJN Customer Connect
CustomerConnect
The most sophisticated suite of marketing services available for jewelry retailers, from Internet tools to data marketing.

advertisement