PanAust, the Australian mineral miner, last Friday announced that it had received three new licenses for the prospecting and exploration of gold and copper in Myanmar.
PanAust is an Australian-headquartered copper and gold producer with operations in Laos. It is also pursuing pre-development and exploration opportunities in Myanmar and Papua New Guinea.
The licenses, which were approved by the Myanmar government on June 21, are the first three to be awarded under new mineral regulations enacted in February.
“PanAust is excited to secure new ground in Myanmar, a country that is a major focus for the company’s growth strategy. We look forward to carrying out a successful exploration program that will eventually lead to Myanmar’s next major mining operation,” said Fred Hess, PanAust Managing Director.
He added that PanAust is committed towards supporting the socio-economic development of Myanmar.
In Myanmar, PanAust holds an 80 percent interest in Wuntho Resources Company Limited (WRCL) and has established a joint venture with Myanmar Energy Resources Group International Company Limited (MERG), a Myanmar-based company, which holds the remaining 20pc of WRCL, PanAust said in its announcement.
WRCL in 2016 was awarded with three exploration licenses giving it the right to mine in Hel Chain, Pink Hin Hka and Nam Awl in Sagaing region. The three newly awarded licenses will enable WRCL to mine at new blocks in Sagaing Region.
Currently, five foreign mineral companies have the licenses to explore for copper, graphite, zinc, coal, tin and tungsten in Myanmar. They include China’s Sichuan Chaundi Mining and Southern Nonferrous Metal, Australia’s Asia Pacific Mining, Thailand’s Lumpoondum Mining as well as WRCL.
Meanwhile, Daw Su Myat Htet, a representative from the Sagaing regional parliament, warned the government to keep a close watch over the miners’ activities so as not to cause harm to the environment and the region’s socio-economic balance.
PanAust is an Australian-headquartered copper and gold producer with operations in Laos. It is also pursuing pre-development and exploration opportunities in Myanmar and Papua New Guinea.
The licenses, which were approved by the Myanmar government on June 21, are the first three to be awarded under new mineral regulations enacted in February.
“PanAust is excited to secure new ground in Myanmar, a country that is a major focus for the company’s growth strategy. We look forward to carrying out a successful exploration program that will eventually lead to Myanmar’s next major mining operation,” said Fred Hess, PanAust Managing Director.
He added that PanAust is committed towards supporting the socio-economic development of Myanmar.
In Myanmar, PanAust holds an 80 percent interest in Wuntho Resources Company Limited (WRCL) and has established a joint venture with Myanmar Energy Resources Group International Company Limited (MERG), a Myanmar-based company, which holds the remaining 20pc of WRCL, PanAust said in its announcement.
WRCL in 2016 was awarded with three exploration licenses giving it the right to mine in Hel Chain, Pink Hin Hka and Nam Awl in Sagaing region. The three newly awarded licenses will enable WRCL to mine at new blocks in Sagaing Region.
Currently, five foreign mineral companies have the licenses to explore for copper, graphite, zinc, coal, tin and tungsten in Myanmar. They include China’s Sichuan Chaundi Mining and Southern Nonferrous Metal, Australia’s Asia Pacific Mining, Thailand’s Lumpoondum Mining as well as WRCL.
Meanwhile, Daw Su Myat Htet, a representative from the Sagaing regional parliament, warned the government to keep a close watch over the miners’ activities so as not to cause harm to the environment and the region’s socio-economic balance.
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