National Prosperity Company

Fugitive Myanmar Gold Mining Executive Arrested in Thailand

November 8, 2019 by thiha

YANGON—National Prosperity Company (NPC) chair U Soe Tun Shein was arrested in Thailand and extradited to Myanmar on Wednesday after more than a year on the run. The Ministry of Natural Resources and Environmental Conservation (MONREC) found in 2018 that NPC had failed to comply with an order, issued the previous year, to suspend its […]

Filed Under: Latest News Tagged With: Bangkok, eastern Shan State, Environmental Conservation, Mandalay from Tachileik, Mandalay Region, Moehti Moemi goldfield in Yemethin Township, MONREC, National Prosperity Company, NPC, Suvarnabhumi International Airport, Thailand, The Irrawaddy, The Ministry of Natural Resources, U Khin Maung Tint of Tachileik Township, U Soe Tun Shein, U Zaw Htay, Yangon

Workers protest to lift ban on blocked gold mine

June 25, 2018 by thiha

Workers have started a weeklong protest to regain mining rights for Moehti Moemi gold mine in Yamethin district of Mandalay, which had its permit blocked by the government, said an official of the National Prosperity Company on Wednesday. Around 500 protesters began the protest on Sunday and will continue until Saturday to push for their […]

Filed Under: Latest News Tagged With: allied gold mining companies, Daw Aung San Suu Kyi, mandalay, Moehti Moemi gold mine, Myanmar investment commission, Myanmar’s Economic Committee, National Prosperity Company, Yamethin district

National Prosperity Company to be sued over gold debt

May 15, 2018 by Thiha

The National Prosperity Company (NPC), which has been mining gold at Moehti Moemi mine in Yamethin township, Mandalay, will face civil charges over its remaining gold debt to the state amid the termination of its contract, said U Khin Maung Win, deputy general manager of the mining enterprise No. 2 and branch head of the […]

Filed Under: Latest News Tagged With: branch head, Deputy General Manager, exchange, gold debt, legal tender, mandalay, Mandalay Advocate General Office, Mandalay Advocate General’s Office, mining enterprise No. 2, Ministry of Natural Resources and Environmental Conservation, Moehti Moemi mine, Myanmar Times, National Prosperity Company, notice letter, NPC, Planning Department, U Khin Maung Win, Yamethin township

Government settles gold debts by private miners

October 27, 2017 by Thiha

The outstanding gold debt owed by private gold mining firms to the government as at September 30, 2017 is 14,121.32 ticals, U Ohn Win, Union Minister for National Resources and Environmental Conservation reported at the Pyithu Hluttaw held on October 19. In Myanmar, 1 tical is equivalent to 16.34 grams. Those debts are to be […]

Filed Under: Latest News Tagged With: Asia Kabar Myar Co, Commercial Tax, export, gold debts, Gold mining companies, Htarnay Aung Co., import, Kachin State, Khaing Shwe Nyein Aye Co., Kyaw Hlwan Moe Co. Oo Dan Thit Co., mandalay, Mandalay Region, Myanmar Mines Law - Rules and Procedures, National Prosperity Company, private miners, Pyithu Hluttaw, San Lin Co., Shwe Moeyan Company, U Ohn Win, Union Minister for National Resources and Environmental Conservation, Union Parliament, Yangon

National Prosperity Company under scrutiny on gold debt to gov’t

July 27, 2017 by Thiha

Negotiations are currently being carried out for NPC to make the payments. The company owes 5.5 tonnes of gold (over 3,400 viss) priced at a fixed rate to the government. NPC has an 8-year contract with the government to mine for gold in the resource-rich Moehti Moemi area, which spans over 6,000 acres of land. […]