Gigantic Jade Stone Worth $170 Million Found in Burma

In a joint venture with the Ministry of Mining, The massive rock was unearthed by Sao Min, a miner aged 44, who was part of the group in the northern Kachin state, at a place regulated by the Yadanar Taungtan Company.

Min was of the feeling that the team "had won the lottery." However, it belongs to the nation and is in honor of the country's leaders, Daily Mail quoted Min. A local politician, U Tint Soe, said that the discovery is a gift to the citizens of Burma, the government and the current ruling party.

Surprisingly, this is not the biggest jade since the one to top the chart is the massive jade statue at China's Jade Buddha Palace that weighs approximately 260 tonnes, states Mirror Online. The giant boulder will now be shipped to China where it will be carved into expensive and fine sculptures and jewelery, reported The Daily Mail.

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Burma's jade industry, which is valued at more than $31 billion, is the source of almost the entire globe's finest greenstone and China is the number one buyer. Approximately, 50% of Burma's GDP is associated to jade mining alone.

Despite the present optimistic ambiance, jade mining does not have a good history in the area. The industry is operated under secretive standards by drug lords, crooked companies and military elites, according to Global Witness. This has fueled land expropriation and armed conflict in Burma. Also, since the technique of jade production in the country is poorly regulated, it's the main cause of many fatal incidents, a majority of which go unreported.