Mining
From The Report: Myanmar 2014
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The presence of rubies, jade and other precious gems has been noted for centuries by locals, early Western explorers and colonial powers. Myanmar has an abundance of gold, silver, platinum, tin, tungsten, zinc, copper and gemstones. Yet very little of this has been exploited. One challenge to exploration and production is information. Only about half of the country has been mapped, pre-independence surveys are incomplete, and much was lost during the Cold War. Bureaucracy remains a hurdle for foreign investors. After years of working mostly with other governments directly, the Ministry of Mines lacks certain administrative capabilities and expertise. In 2014 Myanmar hopes to build trust internationally by joining the Extractive Industries Transparency Initiative, a process that shows accountability and transparency in the mining and hydrocarbons sectors. Given the huge demand for Myanmar minerals and the positive bearing of the government, it is expected that sizeable new exploration and production projects will get underway in the next few years.
This chapter contains an interview with Dr Myint Aung, Minister of Mines.

Articles from this Chapter

Overview

Value extraction: As most Western sanctions have been lifted, a long underexploited sector is opening up
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Judging by the size of its mineral deposits, you would expect a bonanza: Myanmar has an abundance of gold, silver, platinum, tin, tungsten, zinc, copper and gemstones. Yet very little of this has been exploited. Insurgent activity and poor transport have made the more ore-rich areas of the country hard to reach, while a host of foreign sanctions, some still in effect, have made hindered foreign direct investment (FDI) and international financing. The government, having nationalised the sector and…

Interview

OBG talks to Dr Myint Aung, Minister of Mines
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Interview:Dr Myint Aung What investment opportunities have opened up within the mining sector following recent reforms? DR MYINT AUNG: In accordance with the economic objectives set by the government, foreign firms are welcome to take part in exploration and mining activities. Myanmar is endowed with natural resources, such as metallic minerals, non-metallic minerals and gemstones. The high potential of minerals such as nickel remains unrealised. So, along with many other metallic minerals,…

Analysis

A national treasure: If Myanmar is to get value for its gems, it must do more than mine them
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Gems are, as ever, a boon to the Myanma economy. The sector employs thousands and raises millions, for the state as well as for insurgent groups. Sanctions and civil war – let alone nationalisation, military control and international campaigns – have greatly affected the sale of precious stones. Jade, rubies and sapphires have nonetheless always managed to get past the borders and red tape to provide a share of income for the country. Myanmar has such a lock on some stones (90% of the ruby market)…

Analysis

Turning point: A new mining law promises to stimulate substantial foreign interest
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Whilst investment has increased immensely since the easing of sanctions, the mineral-rich soil of Myanmar’s landscape remains significantly underexplored. Red tape, incomplete surveys, inconsistent record keeping and intermittent ethnic conflicts have restricted the growth of the sector. However, potential remains high in the eyes of most onlookers. According to the Directorate of Investment and Company Administration, only nine foreign enterprises engaged in mining throughout FY2012/13, accounting…