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