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. […]

Company urges Mandalay to lift suspension of mining operation

A senior official of the gold mining firm National Prosperity Company (NPC) has appealed to the Mandalay government to lift the ban on the firm’s mining operation in Yamethin district. U Tun Aung Soe, managing director of NPC, said that their company asked the regional government to allow them to resume mining operations in their […]

Ministry of Mines threatens gold debtors with penalty

The companies have signed mining contracts with the state which provide for in-kind payments of gold, he said. The gold – a total of 200 viss, which equates to 20,000 ticals or 10,540 troy ounces – is owed from contracts starting in the 2007-08 financial year. Yesterday, internationally gold was at US$1119 a troy ounce, […]