Mining
From The Report: Myanmar 2017
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The immense wealth that lies beneath Myanmar’s soil continues to entice prospectors from around the globe, and recent structural reforms are expected to bolster the sector and attract much needed capital. The nation’s first democratic government has shown determination to remedy past wrongs and clean up a sector that has immense potential to fuel growth. However, the new administration has inherited a wealth of intricate challenges that will require a vast amount of resources to resolve. Given the country’s geology and the passing of long-awaited legal amendments, most of which are geared towards promoting foreign participation, mineral exploration is expected to accelerate.

This chapter contains interviews with U Ohn Winn, Minister of Natural Resources and Environmental Conservation; and U Nay Win Tun, Chairman, Ruby Dragon Group of Companies.

Articles from this Chapter

Overview

Digging in: New course set by recent reforms is just the beginning
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The immense wealth that lies beneath Myanmar’s soil continues to entice prospectors from around the globe, and recent structural reforms are expected to bolster the sector and attract much needed capital. Until recently, Myanmar’s long history of civil instability and unfavourable production agreements had dissuaded investors from financing the country’s large number of projects. However, the nation’s first democratic government has shown determination to remedy past wrongs and clean up…

Interview

Down to earth: U Ohn Winn, Minister of Natural Resources and Environmental Conservation, on environmental management and sustainability
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Interview:U Ohn Winn How would you characterise the evaluation of extractive industries in recent times? U OHN WINN: In Myanmar the impact of rapid economic development, particularly in extractive industries, is a challenge for sustainable and efficient utilisation of non-renewable, natural resources and the environment. Although extractive industries contributed substantially to the rapid growth of the economy in recent years, we have been facing many challenges in relation to social and…

Interview

Raising standards: U Nay Win Tun, Chairman, Ruby Dragon Group of Companies, on the changing environment for business and investment
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Interview:U Nay Win Tun What measures still need to be taken to promote investment in mining, and how can the decentralisation process play a role in this? U NAY WIN TUN: There are 14 states in Myanmar, 13 of which can produce mining resources. If we can manage to introduce value-added services, newer technology and a more modern banking system, the hope is that all of these can become productive. There are also widespread calls for Myanmar’s mining law to be updated and made more attractive…

Analysis

Reducing bureaucracy: New legislation has cleared the way for investment in natural resource development
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In a effort to usher in a new wave of investment into natural resource development, the previous ruling party passed the 2015 Mining Law during the final stretch of U Thein Sein’s presidential term. The initial injection of foreign capital was stunted by a sluggish permit process and a glut in commodities, but reforms continue to improve the business climate. Recent Trends From a global perspective, the performance of commodities varied throughout 2016. According to World Bank figures, the mining…