Myanmar to attend 2010 China-ASEAN mining forum
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Myanmar entrepreneurs will attend the China-ASEAN Mining Cooperation Forum and Exhibition 2010 scheduled for next month in China's Nanning City, business circle said on Friday.
The forum and exhibition, which will take place at the International Convention and Exhibition Center in the city on Sept. 6-7, provides opportunity for businessmen in the region to cooperate in mineral exploration on mutually beneficial basis.
With over 300 booths, the forum and exhibition expect about 100 entrepreneurs from the region involving those undertaking mineral stone melting, investment and services.
Myanmar has been encouraging local and foreign investment in mining of such minerals as gold, gems, copper, lead, zinc and tin as well as coal.
Private sector's involvement in mineral exploration work increased in Myanmar in 2009 following privatization of many mining blocks in the country during the year.
Since 1998, Indonesian and Chinese companies have been engaged in prospecting, exploration and feasibility study for the development of coal resources in Myanmar's southern Tanintharyi division and northern Kachin state.
Myanmar, a well-known producer of gems in the world, boasts ruby, diamond, cat's eye, emerald, topaz, pearl, sapphire, coral and a variety of garnet tinged with yellow.
Official statistics show that foreign contracted investment in Myanmar's mining sector has so far amounted to about 1.398 billion U.S. dollars in 60 projects since the country opened to such investment in late 1988, accounting for 8 percent of the total foreign investment and standing as the fourth largest sectorally.
Foreign firms engaged in mineral exploration in Myanmar include those from Australia, China, Japan, Malaysia, Singapore, Thailand, the United States and Russia.
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