Home MMBIZ News Indian Firm to Conduct Mining Work in Chin State

Indian Firm to Conduct Mining Work in Chin State

An Indian company is offering to conduct mining work in two townships of Falam and Tunzang in Myanmar’s Chin State, state-run media reported.

Karam Chang Thapar (KCT) company is likely to carry out such mineral exploration work as on gold, chromites, nickel and limestone, said the New Light of Myanmar.

There are nine townships in Chin except one that can produce chromite, nickel, iron, copper, aluminum, limestone, coal, oil and marble.

A number of other private companies have also sought permission to do such mining work in the state, the report added.

Following the reforms, Myanmar has been encouraging local and foreign investments in mineral exploration.

Foreign firms having being engaged in mineral exploration in Myanmar including companies from Australia, China, France, Japan Malaysia, Singapore, South Korea, Thailand, the United States and Russia.

Official statistics show that existing foreign contracted investment in Myanmar’s mining sector amounted to $2.34 billion in 11 projects as of the end of January, accounting for 6.6 percent of the total foreign investment, making it the third largest investment sector after electric power and oil and gas.

- Advertisment -

Must Read

Local gold price drops reflecting global gold price

Gold price in domestic price, reflecting global gold price and dollar rate, lowered after a sudden increase in price following the coup, according to...