Fugitive Myanmar Gold Mining Executive Arrested in Thailand

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 […]

Shut down of Moehti Moemi gold mine helps no one: company

The government’s suspension of the Moehti Moemi gold mining concession had affected the lives of 5000 company workers, and had cost the government between 26.6 kilograms and 53.2kg of gold in lost monthly revenue, U Soe Tun Shein, chairman of National Prosperity Co Ltd, which operated the concession, said at a press conference last Friday. […]

Gold miners fall behind on fees

Three large private mining companies at the Moehti Moemi mines owe hundreds of millions of dollars worth of in-kind payments to the Ministry of Mines, according to U Win Htain, Mining Department director general. Fevered bidding in a 2011 tender may have seen the three firms overreach, as they offered high payments in the future […]