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Companies still owe gold to Myanmar govt for mining concessions: official

Small-scale gold miners owe the government some 13,300 ticals in ore, a senior government official revealed to the Pyidaungsu Hluttaw (Assembly of the Union) last Friday. Deputy Minister for Natural Resources and Environmental Conservation U Ye Myint Swe said the arrears in payments for concessions granted to small-scale miners are from 2007 to the present. […]

How to effectively address illegal gold mining – study

A study by researchers at the National University of Singapore found that increased enforcement and the offer of an alternative agriculture-based livelihood are unlikely to deter illegal gold miners in Myanmar. “It is simply too profitable,” they wrote in a paper published in the journal Conservation Science and Practice. Even though Myanmar is known as […]

Government to support internationally recognized gold market in Yangon

U Phyo Min Thein prom­ised that the govern­ment is committed to providing support for an inter­nationally recognized gold mar­ket in Yangon. “Our government is trying to implement a gold market in line with rules and regulations,” he said at the 17th Annual Meet­ing of Myanmar Gold Entre­preneurs Association, held at Times City (Jewelry Mall) on […]

Gold mine officials accused of making false claim

The Myanmar Anti-Corruption Commission has charged three directors of gold mine concessionaire National Prosperity Co (NPC) with submitting a false claim accusing civil servants of corruption. NPC managing director U Tun Aung Soe submitted the complaint to the commission requesting an investigation of the alleged illegal extraction of gold and other minerals by civil servants […]

Gold mining companies still owe govt

Small gold mining companies still owe more than 1200 ticals (19.6 kilogrammes) of gold to the government, Mandalay Region Auditor General Daw Khin Aye Swe told the Mandalay Region Hluttaw. Under a production-sharing agreement between the No.2 Mining Enterprise and gold mining companies, small gold mining companies owed the government 1290.77 ticals from 2007-08, but […]

Kachin Gov’t Set to Reject Mongolian Mining Proposal

YANGON—The Kachin State government has decided to shelve a Mongolian company’s proposal to conduct a feasibility study on the extraction of gold and other minerals in Myanmar’s largest national conservation area, a sanctuary nearly triple the size of Singapore in Kachin’s northernmost township, due to serious environmental concerns. The project was proposed by Inner Mongolia […]

Is Myanmar ready for cryptocurrency?

The recent coverage of Chinese blockchain company Shellpay Internet Technology Co’s plan to issue digital coins in eastern Shan has sparked widespread social media attention on the cryptocurrency industry. Cryptocurrencies are digital currencies that has no physical form. Unlike cash, they have decentralised control and does not require a central bank or federal reserve. Blockchain […]

Frontier Markets Investment Portfolio: A Mining Site in Northern Myanmar

Asia Frontier Capital’s Regional Investment Analyst Scott Osheroff recently traveled to northern Myanmar to visit the mine site of one of its portfolio companies. Myanmar – Liberalization begins to unfold The National League for Democracy (NLD) seems to have potentially finally come to the realization that the economy is suffering and therefore that their party […]

Govt now processing 40 mining proposals

The Ministry of Natural Resources and Environmental Conservation (MONREC) has processed a total of 40 proposals for mineral exploration at large and medium sized mining blocks in Myanmar, its permanent secretary U Min Min Oo said. Feedback on whether any exploration activities will have an environmental or social impact is being sought from the state […]

Protests and demonstrations a key concern for extractive companies

Protests and demonstrations pose a serious security threat to the oil and gas industry as well as mining sector in Myanmar, a recent poll among industry players showed. Yangon-based Myanmar Centre for Responsible Business (MCRB) organised workshops aiming to raise awareness of the relevance of Voluntary Principles on Security and Human Rights (VPSHR) for Myanmar’s […]