Heavy scrutiny on Chinese investments in Myanmar

YANGON: In Myanmar, opposition to Chinese-backed projects is mounting. Locals allege that Beijing is only interested in exploiting their natural resources, and new trade deals may lead to growing scrutiny over Beijing’s influence there. The suspended Myitsone dam development in northern Myanmar is just one example of how citizens have long been up in arms […]

Myanmar villagers remain in standoff over mine

YANGON, Myanmar — Villagers refusing to leave their homes for the expansion of a Chinese-backed copper mine in northwestern Myanmar remained in a tense standoff with security forces for a second straight day Tuesday, with two reported wounded. The confrontation, which left one woman dead Monday when guards and police fired at the protesting villagers, […]

No more projects like Letpadaungtaung if Myanmar becomes EITI member

If Myanmar becomes a full member of the Extractive Industries Transparency Initiative (EITI), there will be no more projects like Letpadaungtaung copper mine, which caused problems with local people, Dr Zaw Oo, a business advisor to the president, said. “Our country depended heavily on natural resources before. Human resources weren’t that important. It’s like precious […]

Canadian mining company Ivanhoe faces lawsuit in Myanmar

Justice Trust and the Myanmar Lawyers Network will file a lawsuit against Ivanhoe Mines, the Canadian mining company that launched the controversial Latpadaungtaung Copper Mine. “The Canadian company broke the law and it did not meet international standards when it was running the project,” said Thein Than Oo of the Myanmar Lawyers Network. “The company […]

China Wanbao to double investment on copper mine

Despite an amended agreement allocating the company a lower percentage of mining profits, Wanbao’s general manager in Myanmar Geng Yi said that the Chinese firm will double its investment on the project to a sum of up to US$997 million. “We have invested $600 million to date,” he said, “and we will up to $997 […]

China’s Wanbao signs new contract for controversial copper-mine

China’s Wanbao Mining Company signed a new contract for the controversial copper-mine project in Sagaing Region last week, according to the Myanmar Investment Commission. The Myanmar Investment Commission approved a new contract for Letpadaungtaung copper-mine project on July 10 which gives 51 percent of profits to Myanmar government, 19 percent to the military-owned Union of […]