Irrawaddy-June

The Australian-based subsidiary of a Chinese state-owned company has obtained a gold and copper exploration license for an area nearly the size of Singapore in Myanmar’s northern Sagaing Region, already home to many controversial copper mega-mining projects operated by Chinese companies. PanAust received the license last Wednesday from Myanmar’s Ministry for Natural Resources and Environmental Conservation (MONREC) in Naypyitaw for a block that covers more than 185,000 acres (750 square km) in Sagaing’s resource-rich Wuntho Massif Region. PanAust is an Australia-based company owned by Guangdong Rising H.K. Ltd, which is a wholly-owned subsidiary of Guangdong Rising Assets Management Co. Ltd (GRAM).

Read more at: https://www.irrawaddy.com/news/burma/chinese-backed-firm-granted-massive-copper-gold-exploration-permit-myanmar.html