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A reserve of different kinds of gems, Madagascar depends largely on the mining and export of its gems for earning foreign currencies. Madagascar gem mining thus constitutes a principal aspect of the economy of the island. The gems found in Madagascar have given the country its worldwide fame. Abounding in gems like rubies, sapphires, emeralds, apatites, hessonites, lolites, tourmalines, aqua, quartz, beryl etc, Madagascar has gem mining as one of the major fields of mining.
Madagascar gem mining is carried out at various regions of the island where gemstones are found. The gemstone mines of Madagascar are distributed all over the country. Madagascar contains a number of colorful and good quality gems that are of high value in the gems industry of the world. The northern areas of Madagascar yield gems like ruby, aquamarine and emerald. The mountains of the central region produces a number of gems as well. The eastern coast of the country is rich in garnet, ruby etc. The mines of the south-central region contains sapphires of various colors like blue, pink etc.
Gem mining in Madagascar is an important activity in terms of occupation as well as business. Madagascar gemstone mining is a lucrative business and simultaneously opens job prospects for a large number of people living in the country. It thus helps in increasing employment besides being a major source of foreign currency earner.
The prices of gems in Madagascar have increased over the last few years. The price of Madagascar gems in 1999 in the international market was $15.18 million and by 1995 there was a 270% hike in the prices. Madagascar gem mining therefore contributes greatly to the country's economy and the mining industry.
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