PanAust gets green light to mine gold, copper
PanAust, the Australian mineral miner had received three new licenses for the prospecting and exploration of gold and copper in Myanmar on 6th July. PanAust is an Australian-headquartered copper and gold producer with operations in Laos. It is also pursuing pre-development and exploration opportunities in Myanmar and Papua New Guinea. In Myanmar, PanAust holds an 80 percent interest in Wuntho Resources Company Limited (WRCL) and has established a joint venture with Myanmar Energy Resources Group International Company Limited (MERG), a Myanmar-based company, which holds the remaining 20pc of WRCL.
Source – Myanmar Times
o has started the second phase of a Myanmar gas field development project, the company announced on June 28. It began to develop eight additional production wells by signing a contract with world-class companies. POSCO Daewoo announced that its president Kim Young-sang signed an engineering, procurement, construction, installation and commissioning (EPCIC) contract with Baker Hughes and McDermott for the second phase of the Myanmar gas field development project. The contract is worth 300 billion won. The McDermott-Baker Hughes consortium will install subsea production facilities, subsea gas pipelines, and underwater production controllers to develop a total of eight subsea wells, four in Shwe Gas Field and the other four in ShwePhyu Gas Field. POSCO Daewoo will manage and supervise the EPCIC project while directly conducts drilling work at the eight subsea wells.