Gold Mining Industry: Mandalay Region Mostly Produces Gold Ore

The Ministry of Natural Resources and Environmental Conservation has signed contracts with gold mining companies in the regions and states for 2021-22 mini budgets. There are 4 large companies that contract for 4 blocks and 82 medium companies that contract for 135 blocks. All of them, Mandalay region could mostly produce gold ore.

The gold mining areas that have been licensed in the regions and states are Mandalay, Sagaing and Bago regions as well as Shan and Kachin states. Mandalay Region has the most gold mining companies and the largest gold production areas.

Naing Myo Han, General Manager, No.2 Mining Enterprise said “In coming financial year, our department will work transition of small to medium gold blocks in line with provisions of Myanmar Mining Law.The Ministry sets rules and regulations for the gold mining.The pure gold produced by the companies does not export to abroad and deposit to the State and then the gold is stored safely in a systematic way. With the permission of Ministry, the pure gold owned by our department is sold at the fixed price of the gold pricing committee on a daily basis and also sold to the Central bank of Myanmar at the set price. Sometimes, we sold the pure gold to the Ministry of Home Affairs and the Ministry of Religious Affairs and Culture to make the gold medals.”

The Ministry of Natural Resources and Environmental Conservation is implementing a system to pay 48ticals of gold per year for a small gold mining block in accordance with the contract terms.