Myanmar’s new mining bill expected by March 2014

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Myanmar’s new mining law, designed to help clear the way for foreign investment in the country’s huge minerals sector, could be enacted in March 2013, an official with the country’s Ministry of Mines said on October 2.

The ministry submitted a draft of the new mining law to parliament on October 1, said Mr Aung Thuyein Win, a director at the ministry.

“We hope that parliament will approve it within three months,” he told Reuters on the sidelines of a conference in Singapore, adding that after approval by parliament and the president, lawmakers would have 90 days to enact the law.

That means it could be law by March, updating legislation dating from 1994.

Myanmar’s mining sector is in the focus of many investors, as the country is rich in minerals including gold, copper, lead, zinc, nickel, tin, antimony and chromite, as well as jade and rubies.

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Reading Time: 1 minute

Myanmar’s new mining law, designed to help clear the way for foreign investment in the country’s huge minerals sector, could be enacted in March 2013, an official with the country’s Ministry of Mines said on October 2.

Reading Time: 1 minute

Myanmar’s new mining law, designed to help clear the way for foreign investment in the country’s huge minerals sector, could be enacted in March 2013, an official with the country’s Ministry of Mines said on October 2.

The ministry submitted a draft of the new mining law to parliament on October 1, said Mr Aung Thuyein Win, a director at the ministry.

“We hope that parliament will approve it within three months,” he told Reuters on the sidelines of a conference in Singapore, adding that after approval by parliament and the president, lawmakers would have 90 days to enact the law.

That means it could be law by March, updating legislation dating from 1994.

Myanmar’s mining sector is in the focus of many investors, as the country is rich in minerals including gold, copper, lead, zinc, nickel, tin, antimony and chromite, as well as jade and rubies.

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