Lapis lazuli is a rock, which means it consists of three minerals, including lazurite, calcite and pyrite. Gemological Institute of America
This prized material has been used to adorn great works of art from pharaohs coffins to the Sistine Chapel, and it s also touted for its connection to cosmic wisdom and use in feng shui. In fact, it was once more precious than gold. We re talking, of course, about brilliant blue lapis lazuli, which can be found on King Tut s coffin and other funeral items. In crushed form, it became the bluest blue in an artist s palette ultramarine so expensive that Michelangelo couldn t afford it.
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The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has placed Myanma Gems Enterprise on its Specially Designated National list which means the vast majority of Burmese rubies, jade, and other gems cannot be purchased by U.S. companies.
Myanma Gems Enterprise also known as Myanmar Gems Corp. and Myanmar Gems Enterprise is a subdivision of the government’s ministry of mines and is “responsible for all gemstone activities in Burma,” according to a statement from the Treasury Department. It also organizes the local emporiums and sales where rubies and jade are sold, including one currently taking place in the country’s capital, Naypyitaw. (The company did not respond to a request for comment submitted via its Facebook page.)
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The summer and fall show calendar is shaping up to be a busy one.
After canceling its 2021 February gem show in Tucson, the American Gem Trade Association (AGTA) said it plans to stage two gem shows later this year.
The AGTA GemFair Las Vegas show will take place August 24–26 at the Encore at Wynn Las Vegas, around the same time as the rescheduled JCK Show. Like the JCK Show, GemFair Las Vegas was originally scheduled for June.
The Encore at Wynn Las Vegas will also house the Couture Show and the Las Vegas Antique Jewelry & Watch Show, which will take place at the same time. AGTA will honor badges for those shows.
Members of the jewelry industry are confident that US sanctions on Burmese gems will punish leaders of the Asian country’s military coup without damaging the trade.The Myanmar army seized control of the country on February 1. On February 11, US President Joe Biden’s administration banned US.
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