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Mandalay region goldfields tainted by whiff of corruption

Illegal mining is flourishing at the troubled Moehti Moemi goldfields in Mandalay Region and some say weak law enforcement and corruption are to blame. IT IS MORE than 18 months since the Ministry of Natural Resources and Environmental Conservation ordered mining companies at the Moehti Moemi goldfields to suspend operations over outstanding bullion payments to […]

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 […]

Shut down of Moehti Moemi gold mine helps no one: company

The government’s suspension of the Moehti Moemi gold mining concession had affected the lives of 5000 company workers, and had cost the government between 26.6 kilograms and 53.2kg of gold in lost monthly revenue, U Soe Tun Shein, chairman of National Prosperity Co Ltd, which operated the concession, said at a press conference last Friday. […]

Company urges Mandalay to lift suspension of mining operation

A senior official of the gold mining firm National Prosperity Company (NPC) has appealed to the Mandalay government to lift the ban on the firm’s mining operation in Yamethin district. U Tun Aung Soe, managing director of NPC, said that their company asked the regional government to allow them to resume mining operations in their […]

Mining Enterprise- Invitation for Tender for Tin & Wolfram. Closing Date 25 Oct 2016.

Subscribe to our tender alert mailing list 1. No. (2) Mining Enterprise, Ministry of Natural Resources and Environmental Conservation invites to submit the tender quotation for the following materials.   No   Materials Classifies   weight   location Tender Closing Date and Time Delivery Term 1 Tin Concentrate 8.00 MT (Abt) Dawei,Tanintharyi Region     […]

US eases Myanmar sanction to aid business

Photo Credit: File Photo from Nov. 14, 2014  meeting between Obama and Aung San Suu Kyi in Yangon (Nyein Chan Naing / European Press Photo Agency) The US government has removed 3 government banks and 7 government agencies responsible for promoting investment and export in various sectors of this resource rich country off the sanction […]

Ministry of Mines ready for handover

The Ministry of Mines has set its affairs in order and is ready to serve under the incoming government, director general U Win Htein told The Myanmar Times. All government departments are now preparing to receive the new ministers of the National League for Democracy government that will take over on March 31. At the […]

Ministry of Mines threatens gold debtors with penalty

The companies have signed mining contracts with the state which provide for in-kind payments of gold, he said. The gold – a total of 200 viss, which equates to 20,000 ticals or 10,540 troy ounces – is owed from contracts starting in the 2007-08 financial year. Yesterday, internationally gold was at US$1119 a troy ounce, […]