Two separate mining accidents in India and Myanmar have together claimed the lives of a dozen miners, though the death toll may rise as the search for bodies continues.
Jade Mining News
Miners found a 175-tonnes heavy jade stone.
It is the latest in a series of deadly accidents in recent months to hit Hpakant, where as much as 90% of the world's jade is mined, mostly illegally.
Dozens are believed to be buried under the waste left by the mudslide in Myanmar’s Kachin state.
Using heavy earth-excavators and explosives, miners have been tearing into Myanmar’s northern hills in recent months, before a new government takes office next year.
Death toll has climbed to over 100, and there are at least another 100 still missing.
Electra Stone (ELT.V), covered in today's Company Snapshot, is the first public company aiming to take this BC jade and market it directly to China.
Most of the profit goes to powerful military and ex-junta figures instead of the state coffers, a report reveals.
While the jade market in China is a fraction of its overall jewellery trade, the collapse in the value of the stone could indicate tough times for other markets like diamonds and precious metals.