State-owned gems company
Myanma Gems Enterprise (Burmese: မြန်မာ့ကျောက်မျက်ရတနာ ရောင်းဝယ်ရေး 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]
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
External links