Department Stores Boycotts Burma Gems

By John Jeffay / July 30, 2023 / www.idexonline.com / Article Link

(IDEX Online) - John Lewis, the high-end chain of British department stores, is to boycott rubies, sapphires and other gemstones from Burma, in protest at the military junta's civil war against its people."We remain extremely concerned to learn of developments around the conflicts that have taken place, and that continues to take place in recent years in Burma/Myanmar," the company said in a statement.The junta now controls the vast majority of country's gem industry, worth an estimated $2bn a year, according to the Burma Campaign UK, which is urging retailers not to source stones from Burma.Since Aung San Suu Kyi's democratically elected government was toppled in February 2021, more than 1.5m civilians have been displaced by the junta's campaign of terror, according to UN figures.It has reportedly killed almost 4,000 people, some in airstrikes on schools and hospitals, and has arrested more than 24,000 people.Burma Campaign UK wants companies to make sure gems bought from Burma do not fund weapons or military atrocities. It is not calling for a blanket ban.

Recent News

Bullish bankers and bearish institutions split on gold forecasts

July 01, 2024 / www.canadianminingreport.com

Gold stocks down on flat metal price and mixed equities

July 01, 2024 / www.canadianminingreport.com

Snowline Gold reports Initial Resource Estimate

June 24, 2024 / www.canadianminingreport.com

Inflation subsiding and rate cuts starting internationally

June 24, 2024 / www.canadianminingreport.com

Inflation rebound continues to reverse

June 17, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok