Mining Law to be amended: minister

Published on Monday, 19 November 2012 06:01

The Myanmar Mining Law will be amended as soon as possible, Minister for Mining Hla Myint said.

The move follows the ninth annual meeting of the Myanmar Gold and Jewellery Dealers Association held in Yangon on November 16.

Seminars are being conducted to seek advice from local and foreign experts in a bid to amend the mining law.

The Mining Law was enacted on September 4 in 1994 and its bylaw on December 30 in 1996. Since then, the government has granted mining exploration permits, including gold enterprise, to private businesspersons.

The Ministry of Mining plans to insert findings gathered from the Mining Sector Development Seminar on November 19 in Nay Pyi Taw to help amend the law.

The ministry is to take into consideration the environmental impact and sustainable development for the emergence of the green economy in the exploration of mineral resources.

There are more than 40 kinds of minerals in Myanmar, 20 of which are marketable in the world mineral market.

“If we export metals as raw material to foreign countries, we cannot get appropriate value. Therefore, we should extract valuable minerals from ores. Myanmar minerals will get a better price in the global market as the US and European countries have eased sanctions to support the ongoing reform process, the minister said.