210-tonne gi­ant jade stone priced at K7.3 bil­lion by ap­praisal group

The Myanmar Times - - Business - CHAN MYA HTWE chan­myahtwe@mm­times.com – Trans­la­tion by Khine Thazin Han

THE gi­ant jade rock weigh­ing more than 210 tonnes dis­cov­ered at a min­ing block in Mat-lin-chaung, in Hpakant’s Lonekhin jade track, ear­lier this month has been val­ued at K7.2783 bil­lion (US$5.6 mil­lion), ac­cord­ing to the group charged with ap­prais­ing the stone.

This was far be­low the amount es­ti­mated at the time of dis­cov­ery, with some in­ter­na­tional pub­li­ca­tions claim­ing the stone could be worth up to $170 mil­lion. “They fixed the price from the thousands of miles away. They didn’t see the jade,” said a direc­tor from the Myan­mar Gems Tread­ing En­ter­prise.

The state will re­ceive about K1.4556 bil­lion in rev­enues from the find, ac­cord­ing to a re­port in state­me­dia. The stone has been split into six pieces, but has found to have blem­ishes on its sur­face.

After it has been pol­ished it will be cut and sold at an ex­hi­bi­tion, but it will not be ready in time for the Novem­ber 20-29 gem ex­hi­bi­tion, the direc­tor said.

Newspapers in English

Newspapers from Myanmar

© PressReader. All rights reserved.