Mining

With a wealth of untapped geological resources, including the world’s richest jade and ruby mines, Myanmar is set to attract a flood of foreign investment into its high-potential mining sector. In the decades to come, mining is expected to be one of the top drivers of Myanmar’s economic development. Current growth is being driven by a number of smaller projects in metals and by a boom in tin ore output from existing mines. Coal output is growing rapidly, thanks mainly to rising output from the Kalewa basin, in the Sagaing region west of Mandalay. The scale of opportunities in the sector is such that there are already dozens of international mining firms visiting Myanmar, studying its geology and applying or preparing to apply for exploration licenses. A reform that may clear away obstacles to international exploration was adopted in August 2014, allowing foreign investors to own up to 100% of mining licenses. While the wave of exploration expected to be released by reforms will take many years to convert into production, the mining industry appears to be in the early stages of a long-lasting expansion.

This chapter contains interviews with Dr Myint Aung, Minister of Mines; and U Maung Ko, Chairman, Myanmar Federation of Mining Association (CEC).