Raw gems and utility jade are being put up for auction in the local currency at the Mani Yadana Jade Hall in Nay Pyi Taw from 12 to 17 November.
On Monday morning, raw gems and jade were displayed inside and outside of the Hall for local merchants. The Union Minister for Natural Resources and Environmental Conservation, U Ohn Win, visited the emporium in the afternoon to see the display.
A total of 96 gems lots and 3,339 jade lots are being exhibited, and they are to be sold under a competitive bidding system. The gems lots will be exhibited on 12 and 13 November and they will be auctioned from 14 November.
The jade lots will be displayed on 12,13, and 14 November. Lot numbers 1 to 1,150 will be auctioned on 15 November, lots 1,151 to 2,300 will be put up for sale on 16 November, and lots 2,301 to 3,339 on 17 November. The exhibition will end on 17 November.
The chairman of the Emporium Management Committee, U Than Zaw Oo, said many local jade and gems merchants have started their businesses with a small capital investment. We have been holding raw and jade stones auctions for these merchants, he added.
A total of 1,186 local merchants have registered for the exhibition. Local and foreign media have also been invited to cover the sale.
(Translated by Hay Mar)