Myanmar to Unveil New Investment Law in Second Mining Summit 2013

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Researched by Industrial Info Resources (Sugar Land, Texas)--The government of Myanmar, led by President Thein Sein, will unveil details of a much-rumored, newly amended mining law to about 400 participants at its Second Mining Summit on Thursday, January 24, 2013, at Sedona Hotel Yangon.

Also expected during the summit is a clarification on the new foreign investment law and details on foreign venture interest in the mining sector.

A statement issued by the country's Ministry of Mines indicates that the summit will create an official platform for all persons and companies eager to assess investment opportunities and development plans in Myanmar's mining and mineral resources sectors. According to the statement, the opening keynote address will be delivered by Dr. Myint Aung, Union Minister of Mines.

"This four-day, activity-packed event aims to provide maximum opportunities for discussion and interaction between officials from the Ministry of Mines, Ministry of Finance and Internal Revenue, Directorate of Investment and Company Administration (DICA), international investors, mining companies and financial institutions to gain first-hand knowledge and information about investing in Myanmar," the Ministry said.

A flexible, low-cost fee applies to delegates and for securing an exhibition space. Attending the workshops and all conference presentations for the four days will cost $3,095. Securing a 2.5-by-2-meter exhibition space is as low as $6,000. There are also some corporate adjustments to this if delegates want to skip some activities at the summit.

A detailed agenda made available to reporters contains nine major highlights, as follows. The Official Myanmar Mining Summit (Conference & Exhibition) hosted by the Ministry of Mines:

• Four days of conference, workshops and exhibition
• More than 400 participants involved or interested in Myanmar's mining sector
• One-on-one business meeting with officials from the Ministry of Mines (limited slots)
• One pre-summit workshop on "Doing Business in Myanmar Mining"
• Two post-summit workshops on "Mining in Emerging Economies: From Structuring Corporate Transaction to Dealing with Production & Operational Issues" and "Prospectivity & Geological Landscape of Myanmar's Mines & Minerals"
• Showcase more than 20 exhibitors promoting their products and/or services
• Supported by global major and junior mining companies
• Connect with key officials from mining, investment departments, and top mining leaders seeking partnerships and investments
• One-stop event for all investors and stakeholders who want to be involved in Asia's last frontier of minerals, gems resources

Key focuses of the main agenda include:

• Updates on the amended Myanmar Mining Law and mining jurisdictions
• Clarification on the new foreign investment law and implications for foreign venture interest in the mining sector
• Processes involved in securing mining exploration licenses/ventures
• Regional comparative analysis on commercial and geological landscape
• Key success factors for mining investment in Myanmar
• Resource market dynamics and special focus on key resources--gold, copper and iron ore
• Legal and taxation matters related to mining projects and operations
• Due diligence issues on environmental impact and sustainability

In July 2012, the country's Ministry of Mines held the first official Myanmar Mining Summit, during which close to 300 delegates from Asia, the Middle East, Africa, Europe, Australia, the U.S. and Canada turned up and were officially addressed by the Ministry of Mines, DICA, Department of Geological Survey & Mineral Exploration (DGSE). Other presentations were made at the 3.5-day event by representatives from the private sector, all focusing on a thorough examination of the investment climate and the opportunities in Myanmar's mining industry.

Business leaders from mining and exploration companies, legal firms, risk management consultants, financial advisors, and other allied industries received outlines of Myanmar's investment and mining environment during the summit. Information on structuring joint ventures and risk management, options on mining projects financing, and geological opportunities presented via three specially designed value-added workshops were also provided.

Industrial Info gathered that these summits are a major step in Myanmar's progress on opening the economy and welcoming an idea echoed by the rest of the world--that the country is now a focus of investment.

Already, foreign investors are responding positively to this prospect with some initial investment moves. One example is PT Timah (Persero) Tbk (TIMAH), a publicly listed tin-producing company owned by the government of Indonesia.

TIMAH secured a mining permit in November 2012 from the Myanmar Authority to develop a tin tenement located at Dawei. "The company will invest $18 million over a three-year period for the mining site, which is expected to produce 10,000 tons of tins annually," said Timah's managing director.

Myanmar has an estimated population of 54.58 million people. Infrastructure and natural resources such as oil, gas, timber and minerals woo billions in foreign investment, and the country is predicted to be heading for 20 to 30 years of tremendous growth with investors from around the world.

With government plans to give updates and clarification on foreign investment and mining laws, more would be expected to unfold shortly in the country's mineral resources sector.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, and eight offices outside of North America, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.