China-based Sichuan Henglu Industrial Co and Myanmar’s Good Plus Star Mining Co have formed a joint venture company to refine lead in Kalaw township, Taunggyi, Shan state.
The new company, GPS Joint Venture, was given the go ahead last week during a meeting of Myanmar Investment Commission (MIC) held at Nay Pyi Taw last week.
North Mining Investment Company, another Chinese miner, also submitted an investment proposal to MIC for copper mining at Mwaytaung Phartaung in Chin state, the Ministry of Mines said.
MIC requires foreign mining companies to conduct Environmental Impact Assessment (EIA) and Social Impact Assessment (SIA) surveys.
Foreign investment in mining sector stood at about $2.8 billion as of November 2013, official data shows.