Workers protest to lift ban on blocked gold mine

Workers have started a weeklong protest to regain mining rights for Moehti Moemi gold mine in Yamethin district of Mandalay, which had its permit blocked by the government, said an official of the National Prosperity Company on Wednesday. Around 500 protesters began the protest on Sunday and will continue until Saturday to push for their […]

National Prosperity Company to be sued over gold debt

The National Prosperity Company (NPC), which has been mining gold at Moehti Moemi mine in Yamethin township, Mandalay, will face civil charges over its remaining gold debt to the state amid the termination of its contract, said U Khin Maung Win, deputy general manager of the mining enterprise No. 2 and branch head of the […]

Government settles gold debts by private miners

The outstanding gold debt owed by private gold mining firms to the government as at September 30, 2017 is 14,121.32 ticals, U Ohn Win, Union Minister for National Resources and Environmental Conservation reported at the Pyithu Hluttaw held on October 19. In Myanmar, 1 tical is equivalent to 16.34 grams. Those debts are to be […]

National Prosperity Company under scrutiny on gold debt to gov’t

Negotiations are currently being carried out for NPC to make the payments. The company owes 5.5 tonnes of gold (over 3,400 viss) priced at a fixed rate to the government. NPC has an 8-year contract with the government to mine for gold in the resource-rich Moehti Moemi area, which spans over 6,000 acres of land. […]