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.
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Type:
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Entry and establishment (Ownership and control)
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Treatment and operation (Operational conditions)
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Industry:
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Primary (Mining and quarrying)
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Sources:
