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Friday, March 20, 2009

Burmese Gem Mines

Burma's gem mines face closure
http://news.bbc.co.uk/2/hi/7947914.stm

As precious stones are Burma's third biggest export, the collapse in demand is having a serious effect on the economy. They are usually sold, often via the black market, to China and Thailand - where they are treated, polished and then sold. 'A viss (approximately 1.63kg) of jade stones, whether good or bad, usually fetched a little over £1000 ($1440). Now we are unable to sell them at a tenth of that,' one gem trader told the BBC.

The business is down, indeed. What will be the real impact from the slowdown? Hard to tell. Burma is full of surprises.

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