Myanmar opens door for Aust mining

A burst of $US3.6 billion ($A4.85 billion) invested in Myanmar’s oil and gas sector in the past year is a green light for Australian companies involvement, Australian business representatives say. In 2014, the Myanmar government awarded 40 onshore and offshore oil and gas licences and Australia’s Woodside Petroleum is exploring two offshore areas in the […]

As Myanmar opens up, miners weigh potential versus risk

YANGON, Jan 7 (Reuters) – With abundant mineral wealth from jade and rubies to copper and coal, Myanmar ought to be looking forward to a mining boom as it opens up its economy. But long-running insurgencies and a murky regulatory framework are holding back all but the intrepid. Foreign investment in the Southeast Asian country […]

Myanmar earns US$ 1.3 billion in jade exports

Myanmar has earned US$1.3 billion from the export of jade stone over the last three years, according to the ministry of national planning and economic development. Export earnings in the 2011-2012 fiscal year was US$ 34.2 million, US$ 297.9 million in 2012-2013 and US$ 1 billion in 2013-2014. The last fiscal year showed a significant […]

Myanmar promises to clean up mining sector

Australia has hailed Myanmar’s (Burma) bid to boost transparency in its mining sector, with the federal government keen to ramp up trade and investment with the emerging economy. Myanmar’s application to join the Extractive Industries Transparency Initiative – a voluntary code to encourage governments to be accountable for their country’s resource revenues – has been […]