Myanmar’s new mining bill expected by March 2014

Myanmar’s new mining bill expected by March 2014Myanmar’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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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...

Myanmar’s new mining bill expected by March 2014Myanmar’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.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

 

 

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