You are here

Myanmar's jade industry worth US$31b: watchdog

Value far exceeds official figures and profits mostly elites

PRECIOUS: The best quality jadeite is mined in Myanmar's Kachin state bordering China, which highly prizes the stone.


MYANMAR'S secretive jade industry is worth an estimated US$31 billion, far higher than official accounts, with most profits going to powerful military and ex-junta figures instead of the state coffers, a corruption watchdog said on Friday. Shady income derived from the trade has