Myanma Gems Enterprise

Myanma Gems Enterprise (Burmese: မြန်မာ့​ကျောက်မျက်ရတနာ ရောင်းဝယ်​ရေး လုပ်ငန်း; abbreviated MGE) is a state-owned enterprise of Myanmar, operating under the Ministry of Natural Resources and Environmental Conservation.[1] MGE manages the mining, marketing, and sales of Burmese jade and gemstones, and administers gemstone regulations and licensing, participates in joint ventures for mining operations, and collects royalties.[1] MGE organises biannual gem emporiums for extracted jade and gemstones.[2][1] MGE generates approximately half of the Burmese government's annual revenue.[3]

Myanma Gems Enterprise
Native name
မြန်မာ့​ကျောက်မျက်ရတနာ ရောင်းဝယ်​ရေး လုပ်ငန်း
FormerlyBurma Gems Corporation
TypePublic
IndustryGemstones
Founded1976 (1976)
Headquarters
Myanmar
ProductsGemstones
Jade
Rubies
OwnerMyanmar Government
ParentMinistry of Natural Resources and Environmental Conservation
Websitewww.mge.gov.mm

History

Gemstone mining was nationalised in Burma following the 1962 Burmese coup d'état. In 1976, the Burma Gems Corporation was established to mine and market gemstones.[4] It was renamed the Myanma Gems Enterprise in 1989, after the 8888 Uprising.[5]

Following the 2015 Myanmar general election, which was won by National League for Democracy, the military-owned Myanma Economic Holdings Limited quickly secured 58% of MGE's jade and gemstone mining licence, becoming the country's largest licence holder.[6]

In the aftermath of the 2021 Myanmar coup d'état, the United States, European Union, and the United Kingdom banned MGE for its role in generating revenue for the military regime.[7][1][8]

References
  1. "Treasury Sanctions Key Gems Enterprise in Burma". U.S. Department of the Treasury. 8 April 2021. Retrieved 28 March 2023.
  2. Kyaw Hsu Mon (4 July 2016). "Jade Sales Drop Significantly at Govt Emporium". The Irrawaddy. Retrieved 28 March 2023.
  3. "Myanmar: US hits state-owned gem company with sanctions". BBC News. 9 April 2021. Retrieved 28 March 2023.
  4. Hilson, G. M. (1 January 2003). The Socio-Economic Impacts of Artisanal and Small-Scale Mining in Developing Countries. Taylor & Francis. p. 46. ISBN 978-1-135-29122-8.
  5. "About MTE". Myanma Timber Enterprise. Retrieved 27 March 2023.
  6. "Myanmar Jade Industry Risks Becoming Regime's Slush Fund: Report". The Irrawaddy. 29 June 2021. Retrieved 28 March 2023.
  7. "Myanma Gems Enterprise". Open Sanctions. Retrieved 28 March 2023.
  8. "UK announces sanctions on gemstone company linked to the military regime in Myanmar". GOV.UK. 17 May 2021. Retrieved 28 March 2023.


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