Eight foreign mining companies applied for permission to conduct large-scale mining exploration projects in Myanmar

Eight foreign mining companies have applied for permits to conduct large-scale mining exploration projects in Myanmar, U Ather Hlaing, director of the Department of Geological Survey and Mineral Exploration, told The Myanmar Times.

The government has received a total of 1661 applications to operate at large and medium-scale mining blocks since the new Myanmar Mining Law was enforced last July. Mining activities had been suspended for two years prior to July 2018.

Among these applications, eight involving permits to mine at 12 mining blocks across Myanmar are from foreign companies, the department said.

South Earth Joint Venture has applied for two blocks to mine copper and tin in Mandalay and Shan State, respectively. Southern Nonferrous Metals has also applied for one block in Shan to mine tin and tungsten.

Meanwhile, Indmar Carbonates Minerals, Wuntho Resources and Access Resources Asia have applied to mine limestone, copper and gold in Sagaing, respectively.

Kipling Resources has also applied for two blocks to mine gold, copper and other metals in Magwe, while Nettetsu Mining applied for one block in Taninthayi to mine tin, tungsten and rare earth. Fortuna Metals applied for two blocks in Kachin to mine gold, copper and related metals and one block in Kayah State to mine tin and tungsten, said U Ather Hlaing.

He added that some of the blocks will require environmental assessments before exploration permits are given. “For these areas, we will follow the required procedures stated by the authorities,” said U Ather Hlaing, adding that his department will consider the recommendations given by regional authorities after consulting with the locals before approving the permits.

If the applications are complete and the sites do not overlap with existing sites, the regional authorities are likely to have positive feedback, he said.

According to the 2018 Myanmar Mining Law, foreigners can apply to mine at large-scale mining blocks of more than 500,000 acres while local businesses can invest in all kinds of blocks.

Distribution of licenses to carry out mining activities was suspended between July 2016 and June 2018 to enable the government to inspect conditions at existing sites and projects. Checks were also conducted to ensure mining activities are being carried out in according with the Environmental Conservation Law, said U Khin Latt Kyi, Director General of the Mining Department.

U Khin Maung Han, chair of the Myanmar Federation of Mining Associations, said it is important for the mining industry to pay the right amount of taxes and conduct CSR (Corporate Social Responsibility) activities to help conserve the environment and compensate local communities.

“As we are conducting business and profiting at the expense of the community and environment, businesses must also take responsibility and give back to the community or environment. But locals need to cooperate. If all the stakeholders work together transparently it will benefit the locals as well as encourage investors from around the world to invest in Myanmar,” he said.

(The Myanmar Times: https://www.mmtimes.com/news/eight-foreign-investor-apply-myanmar-mining-exploartion-permits.html )

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