The permits for new gem mines in Mogoke, Mineshu and Nanyar state will be issued by the ministry according to a statement issued by the ministry on 11 February. While many sanctions placed on the former regime were eased or lifted in 2012, the US has left restrictions on importing rubies and jade from Myanmar intact. According to recent amendments to the new Myanmar foreign investment law, there is no longer a minimum capital requirement for investments, except in mining ventures, which require substantial proof of capital and must be documented through a domestic bank. Another important clarification in the investment law is the dropping of foreign ownership restrictions in joint ventures, except in restricted sectors, such as mining, where FDI will be capped at 80 per cent.