Myanmar Timber Enterprise targets higher sales, commercial restructuring

State-owned Myanmar Timber Enterprise (MTE) is targeting sales of 5,000 tonnes of teak and 100,000 tonnes of hard wood during the six-month period between April and October this year. The sales are expected to generate K63 billion in revenues, MTE deputy general manager U Khin Maung Kyi told The Myanmar Times. Sales will be conducted […]

Environment ministry may resume teak production in ’18

The Ministry of Resources and Environmental Conservation hopes to resume teak production from an agricultural estate planted by the Forestry Department this year. A workshop to assess the situation of teak plantations that are 30 years or older was held in Nay Pyi Taw on Sunday. “We first tested teak production in 2012-13. We didn’t […]

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 […]

Myanmar plans to promote bamboo production in cooperation with China

Myanmar plans to promote the bamboo production industry in the country in cooperation with China, U Ohn Win, Minister of Natural Resources and Environmental Conservation said Thursday. According to a Xinhua report, the minister made the announcement at a ceremony marking the completion of China-Myanmar friendship forest project Thursday. He said that authorities will promote […]

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. […]

Jade Curse Tests Post-Sanctions Myanmar

Its embrace can bring wealth beyond measure, or instant death. It is a magnet for the most impoverished migrant workers and the most ruthless exploiters. Its haunts are a cauldron of armed conflict beyond the law of the land. In what could be one of its most challenging tests, how will Myanmar’s democratic government deal […]

Govt to limit jade mining under new laws and restrictions

NEW laws will soon be enacted to restrict jade production within the Lonekhin and Hpakant mining blocks in Kachin State, said Union Minister for Natural Resources and Environmental Conservation U Ohn Win at a session of the Amyotha Hluttaw yesterday. No more jade mining blocks will be allowed, and restrictions will be set on the […]

Who’s who: Myanmar’s new cabinet

Take a look inside the National League for Democracy’s new proposed government with insider profiles of the party’s 18 candidates for ministerial posts: Daw Aung San Suu Kyi (foreign affairs; president’s office; education; energy and electric power) The National League for Democracy leader needs little introduction. Has vowed to rule “above the president”, and with […]