Anglo American, one of the world’s
largest mining companies, is in talks with Myanmar for possible
investment in the mining sector, a source reported.
Anglo American Mining Co, headquartered
in London, mainly produces platinum group metals, diamond, copper,
nickel and iron ore. It is also included in the list of 15 largest
companies in the London Stock Exchange.
The company’s group head of business
development, Paul Cahill, held talks with government officials about
investment procedures and opportunities in the mining sector on December
10.
Currently, China is the largest investor in Myanmar’s mining sector, including copper.
British mining companies have withdrawn
their investment in Myanmar for years and Britain has invested US$100
million in the country only after the new government took over.
Britain was the third biggest investor in Myanmar in the past, but was later surpassed by Hong Kong and Korea.
Britain has so far invested about US$2.8 billion in 54 businesses in Myanmar.
Britain has so far invested about US$2.8 billion in 54 businesses in Myanmar.
Foreign investment in Myanmar’s mining sector has reached nearly US$3 billion, according to government statistics.
source: Eleven Myanmar
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