Myanmar panel wants China-backed mine project

Myanmar panel wants China-backed mine projectYangon, March 12 : A Myanmar commission, led by opposition leader and parliamentarian Aung San Suu Kyi, has proposed that a copper mining project in which a Chinese company has a stake should go on.

Myanmar government-appointed Investigation Commission proposed in its final report to the president released Tuesday that the controversial Letpadaungtaung copper mine project should go on, while amending some undertakings in consideration of economic, social and environmental impacts as well as international relations, reported Xinhua.

The Monywa Letpadaungtaung copper mining project is being implemented by a joint venture between the Myanmar Economic Holding Ltd and China's Wanbao Mining Ltd and Yang Tze Copper Ltd in accordance with Myanmar's Foreign Investment Law.

With regard to land confiscation to make way for the implementation of the project, the report said not enough compensation was made nor deserving job opportunities offered to locally displaced people that sparked dissatisfaction and demonstrations against the project.

The Monywa copper mining project comprising Latpadaungtaung and Kyayzintaung projects has been undertaken by the Myanmar-China joint venture under the approval of the Ministry of Mines in March 2010 after a Canadian company, the Ivanhoe, pulled out two years ago.(IANS)


Check out More news from Telecom Sector :: Pharmaceutical Sector :: Auto Sector :: Infrastructure :: Real Estate

Popular Stories

Jharkhand: Major train accident avoided as 44 peddle clips found open

Sahebganj (Jharkhand) [India], Feb. 27 : A major... Read More

Delhi HC to pronounce judgment on nursery admission norms

New Delhi [India], Feb. 27 : The Delhi High Court... Read More

Virbhadra Singh DA case: Delhi HC to hear Anand Chauhan's bail plea

New Delhi [India], Feb. 27 : A Delhi court will on... Read More

SC to hear SBI-led consortium's plea against Mallya

New Delhi [India], Feb. 27 : The Supreme Court will... Read More

SC to hear Union Minister's plea against Parsvnath developers

New Delhi [India], Feb. 27 : The Supreme Court will... Read More

Madras HC to hear DMK's plea challenging TN CM's floor test

Chennai (Tamil Nadu) [India], Feb. 27 : The Madras... Read More