Myanmar MiningMining Myanmar
Myanmar - Mining and Mineral Resources
Burma has great natural wealth of minerals such as solid ore, golds, metals, silver, brass, pewter, tungsten, plumb, zink and many more. Burma is responsible for about 90 per cent of the world's total output of it. There are goldmines all over the land. The growing privatisation of the mining sector creates chances for international investment. There are other mining commodities such as sterling silver, plumb, tin, wolfram and anti-mony widely used in the state.
Under the new FDI Act, FDI in small and medium-sized mineral industries is restricted and demands the establishment of large manufacturing alliances. The Myanmar Investmentcommission (MIC) may make exemptions on a case-by-case however. In February 2017, 71 FDI flows were authorised by 71 FDI companies in the mining industry, representing less than 5% of all FDI flows.
The 53rd Myanma Juice, Gems and Pearl Summit took place in Nay Pyi Taw in 2016. Myanmar made 533 euros during the shopping mall. $592.12 million (49 million) from batches of jewelry, pearls and jewelry, but overall revenues were almost 10 per cent lower than a year before. Recent amendments to the 1994 Mining Act provide for the reorganisation of mining operations and allow international investment to form joints with regional mining companies to extend major mining operations in the state.
Mining project licences have been prolonged for up to 50 years for major and up to 15 years for medium-scale mines. EITI, the Extractive Industries Transparancy Initiative's very first ever EITI publication at the end of 2015, gave a ray of light for more openness in mining.
GOM has issued new standards for the assessment of the ecological and societal impact of capital expenditure programmes.
Production sharing ratio is calculated on the basis of minerals such as gold, cupper, lead, zinc, tin, tungsten, nickel, manganese, iron and steel, and coal. Burma faces some particular issues in mining projects such as the conflicts over lands, violence against the exploration of resources by locals and conservationists, environment issues and riots in a mineral-rich area such as Kachin State, where significant Jadeit reserves are located.
The mining industry is restricted in controversial areas suffering from a shortage of supervision, regulation and investments. Overcoming conflicts in such areas will provide the opportunity for more economic growth, as well as possibilities for investments and jobs. Major sub-sectorsHeavy duty mining equipment: Excavator, shovel, loader, dragline, bucket excavator, power drill and other long side machines, coal/rock cutter, feed crusher, high side machines, minerals sieves, washers, breakers and grinders, subterranean communications and security system, hydraulic/friction supports and wedges and mine protection are available in Myanmar on request.
Exploration and mining technology: Mining is stagnating due to a shortage of geographical information, low quality mine investigations, bad cartography systems and deposit calculi. US businesses could find chances in this area. In Myanmar, the instruments are needed for specimen prep, minerals test and movement and band general analysis.
It is anticipated that the new GOM will support the growth of Myanmar's mining industries. OpportunitiesThe recent changes to the Myanmar Mining Act and the first report of the Extractive Industries Transparency Initiative (EITI) are indicators of the mining industries in Myanmar. The new Mining Act allows the general arrangement on public-private mining alliances to be established.
Small and medium-sized ventures are also permitted as part of a collaborative project with the Ministry. Further areas in which US businesses should invest include mineral prospecting, mining and exploitation in mid- to large-scale mining, mining and environment related plant and machinery and technology, environment and societal sustainability research and people.