Myanmar’s luxury gemstone industry—centered on Mogok (Mogoke) in northern Mandalay Region and extending into nearby mining towns such as Namtu (Bawdwin), Mongngawt, Namhkan and others—remains a strategically and financially crucial sector. The field involves a mixture of state-linked companies (notably military-controlled conglomerates Myanmar Economic Corporation and Myanmar Economic Holdings Limited), ethnic armed organisations (TNLA, UWSA, MNDAA and others), a range of private traders and outside investors (including Chinese business interests and entities such as the Myanmar Trade Centre (Hainan) and local associations). A Global Witness report estimate annual production values in the hundreds of millions of U.S. dollars, with estimates of much larger informal and illicit flows. China is repeatedly identified as the main commercial outlet and buyer market, and the junta has actively promoted ruby/sapphire sales to Chinese buyers.

The industry is tightly entangled with conflict, governance gaps and documented rights and environmental problems. Junta airstrikes and road and telecom shutdowns have caused mass displacement, interrupted trade and killed civilians; informal miners and small traders report extortion, arrests, and bribe-taking. Environmental harm and community complaints have led to temporary suspensions of certain gold and silica operations, while local allegations point to large-scale, environmentally destructive gem extraction.