Extractive industries

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Kachin Jade Sales Net Tax of $8.77m, a Figure Dwarfed by Black Market

Kachin state has gen­erated K12 billion, roughly $8.77 mil­lion, for state coffers from sales of jade so far this fis­cal year, the state’s chief minister has said. But that figure is minuscule com­pared to the multi-billion dollar black market thriv­ing in the region.

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Joint-venture between British and Myanmar firms eyes oil and gas sector

A British company has created a joint-venture with a Myanmar firm to enter the marine industry as well as oil and natural gas sector.

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Miners to Miss Out on Tax Exemptions Under New Investment Law

The mining sector will miss out on a number of incen­tives including special income tax exemptions under the new invest­ment law which is due to take effect next month, the Director General of the Directorate of In­vestment and Company Administration(DICA) told a press briefing.

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PTTEP and Total Team Up for Oil and Gas Exploration Off Myanmar’s Southern Coast

The Thai oil and gas company PTT Exploration and Production (PTTEP) will partner with Total E&P Myanmar for an oil and gas exploration project off the southern coast of Myanmar.

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Myanmar Looks to Step Up Production at Three Offshore Gas Rigs

Gas from three re­cently-discovered offshore reserves near the coasts of Rakh­ine and Mon states will feed local and interna­tional demand for energy over the next five years, a minister has said.

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Proposed Gold Tax Cut to 1% After Lobbying From Industry

Gold buyers will now only have to pay a one percent tax, down from the planned three per­cent, after the Myanmar Gold Trader Association argued that the rate would hurt the gold market.

The one percent tax only applies to finished prod­ucts such as jewellery, rather than raw gold, said U Kyaw Win, secretary of the Myanmar Gold Trader Association and owner of the Oo Hton gold shop.

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134 mining blocks to expire this month

The Myanma Gems Enterprise under the Ministry of Resources and Environmental Conservation announced that a total of 134 authorised mining blocks in the country’s gemstone tracts are going to expire within this month.

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Hydropower review taskforce stalls, waiting for instructions

A commission member on the taskforce reviewing hydropower projects said the team has yet to hear back from the president about the first submitted report, which is believed to have advised cancelling the controversial, Chinese-backed Myitsone dam.

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S Korea to help build Myeik power plant

The Myeik Public Corporation explained its plans to build a gas-fuelled power plant in partnership with the Korea-based KMPI Company in Kyunzu Township, Taninthayi Region, at a stakeholder meeting on Thursday.

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Kachin MPs slam vague mining deals

MPs representing Hpakant Township, Kachin State, claim mining regulation is as vague as it was under the former administration and argued the government still cannot regulate mining properly.

 

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