Myanmar

Myanmar

Myanmar passed a new Mines Law

24 Dec 2015

On 24 December 2015, the Union parliament adopted a new Mines Law (Law No. 72/2015) to amend the Mines Law of 1994. This law introduced several major reforms favourable to foreign investors, including: (1) changing the practice of mandatory production sharing agreements, which used to guarantee the government about 30 per cent of the mineral, by introducing a new mechanism allowing the state to opt for equity interest in projects; (2) capping royalties at 5 per cent for gold, platinum and uranium (and less for silver, copper, nickel, coal and other industrial minerals); (3) extending the maximum production permit period for large scale extraction/production to 50 years; (4) allowing foreign investors to enter into joint ventures with domestic miners to expand small- and medium-scale projects into large-scale operations.

Nature of measure:
  • Liberalization
  • Promotion
  • Incentives
Type:
  • Entry and establishment (Ownership and control)
  • Treatment and operation (Operational conditions)
Industry:
  • Primary (Mining and quarrying)
Inward FDI:
No
Outward FDI:
No
Sources: