(From Myanmar Times)
By Steve Gilmore
A new amendment has the potential to fundamentally alter the economics of mining in Myanmar and draw a new round of foreign companies to the country. But with commodity prices dropping firms are searching for the most favourable fiscal regimes, and the outlook for Myanmar rests heavily on regulations now being drawn up.
A long-awaited draft amendment passed at the end of 2015 allows foreign firms to form joint ventures with small- and medium-scale mining firms to expand a project and extends tenure permits for large-scale projects to 50 years.
It also guarantees firms that conduct exploration according to the rules a mining permit, removing some of the uncertainty about how straightforward this would be for companies that had already spent capital on exploration work. Read more