The wave of current reforms in Myanmar began in 2008, with the first reformation of the nation’s constitution. This paved the way in 2010 for Myanmar’s first democratic elections since 1960. Soon after, high-profile opposition leader Aung San Suu Kyi was released from house arrest. She was elected to parliament early in 2012. Immediately afterward, most foreign sanctions against Myanmar were lifted, including those of the United States, European Union, and Canada.
The lifting of sanctions makes it possible for Western corporations to at long last do business in Myanmar. Prompted by these changes, multinationals like GE, Coca Cola and Visa have all forged new ventures in-country.
Myanmar’s Mining Opportunities
Asia Pacific Mining Limited is using its first-mover advantage in Myanmar to develop the country’s historic mining and minerals sector.
Myanmar is home to some of the world’s largest historic mines, and undeveloped mineral deposits. The Monywa copper mine hosts a resource of nearly 2 billion tonnes grading 0.40% Cu. The Mawchi tin-tungsten mine was the largest global producer of these metals during the World War II era. The Bawdwin silver-lead-zinc mine’s production dates to the 1500s, and today the undeveloped portion of this mineralized body represents one of the world’s largest silver and base metal endowments.
Today, most of Myanmar’s historic mines languish due to underinvestment and lack of technology transfer over the past five decades. Mining currently accounts for less than 2% of the nation’s GDP.
Despite its proven mineral richness, Myanmar remains nearly completely unexplored by modern geological and geophysical methods. A number of government-to-government mapping and assessment programs were conducted during the 1970s, but only at very local scale. Some reconnaissance-level work was carried out during a brief period of foreign investment in 1994 to 1998. APML has collected and compiled data from the majority of this work, as well as from previous work completed by sources like the British Geological Survey and Geological Survey of India, to create one of the most comprehensive mineral databases in Myanmar.
One of Asia’s least developed economies with significant potential for unlocking growth. Mining accounts for less than 2% of GDP due to under-investment driven by previous sanctions. Recent political reforms have paved the way for the lifting of sanctions and opening of the economy to foreign investment. Widely recognized as one of the next great investment opportunities.
- Population: 51.4 million
- Capital City: Naypyidaw
- Religion: Buddhist
- Borders: India, China, Thailand, Laos, Bangladesh
- GDP: $56.8 billion
- GDP: $USD 1,105 per capita
- Average Salary: $USD65 per month
- Workforce: 32 million people
If you can find ways to invest in Myanmar you will be very, very rich over the next 20, 30, 40 years.
– Jim Rogers (Bloomberg, 30 November 2011)