MYANMAR TO GET MORE FROM UNDER-FIRE COPPER MINE

Written by Admin on August 5, 2013. Posted in Business, News, Top Stories

 

The company implementing controversial copper mine would fund social
works USD 1 million as part of corporate social responsibilities since
the start of the production, the government committee overseeing the
mining project said Saturday.

The project would fund social works with two percents of its profit
each year, the committee for implementing reports of the investigation
commission led by Nobel laureate parliamentarian Aung San Suu Kyi.

The commission in its development-oriented report suggested the
continuation of the the project despite protests by local farmers.

Hla Tun, a senior government minister who chairs the committee, said
necessary assistances would be provided as soon as possible after
reviewing priority areas.

The committee said compensations were granted and unnecessarily
confiscated farmlands were returned to their original owners over the
past four months.

The copper mine is being operated by a joint venture between Union of
Myanmar Economic Holdings Limited, the army's business outlet, and
Wenbao company of China.

The committee is formed with ministers from various line ministries
including home minister and mining minister, the chief minister of
local government in Sagaing Region, and senior military officers.

Recently, the new revised contract was signed between the two
companies which guarantees more profits to the Myanmar side and more
social responsibilities.

photo is taken from internet

Source: http://www.news.myanmaronlinecentre.com/2013/08/06/myanmar-to-get-more-from-under-fire-copper-mine/