Mineral Resources

From Myanmar
Jump to: navigation, search

The geological evolution of Myanmar has in many cases resulted in favourable conditions for the formation of mineral resources. Myanmar has enacted the "Myanmar Mines Law" on 6th September 1994. It consists of 12 Chapters and 40 Articles. In exercising the powers conferred under section 39(a) of Myanmar Mines Law, the Ministry of Mines promulgated the "Myanmar Mines Rules" on 30th December, 1996. The rules consist of 12 Chapters and 124 Articles. Some of the main provisions of the rules are as follows:

  • Mineral Prospecting Permit
  • Mineral Exploration Permit
  • Large Scale Mineral Production Permit
  • Environmental Consideration
  • Financial Provisions

In the field of mining industry, the government also commenced a liberalization policy in order to introduce foreign capital, and established new Myanmar Mining Law in 1994. Since the, the government has tried to organize joint ventures with foreign investors, in order to revitalize operating mines and to invite foreign companies to international bids for the exploration of promising areas.

At present Myanmar can hardly be classified into a major mining nation, since there are only the Monywa mine (copper), the Bawdawin mine (lead-zinc-silver), and several small mines (gold, tin, tungsten) in operation. However, the Myanmar mining sector is still regarded as one of the most important industries that can earn foreign currency, as there are few major industries other than agriculture.