Myanmar President's Office Minister U Hla Tun has called on local people
in a copper mine project area to take collaborative and constructive
attitude to ensure sustainable benefit of the work for their own region,
official media reported Monday.
Addressing representatives from
33 villages in the project area, U Hla Tun, who is Chairman of the
Committee for Implementation of the Probe Panel's Report on
Latpadaungtaung Copper Mine Project, stressed the need for resumption of
the copper mine project as soon as possible in a transparent manner for
the sake of the country and the people.
He also underscored the need to catch up with other countries in development and attracting foreign investment.
He
vowed to ensure job creation and bring benefit of the project to local
people,adding that works are underway for environmental conservation.
Construction
work on the Latpadaungtaung copper mine project in Monywa in northwest
Myanmar's Sagaing region is to resume under a revised contract signed on
July 24 by the state-owned Myanmar Mining Enterprise, Myanmar Economic
Holding Ltd and China's Wanbao Mining Ltd.
Under the new
contract, the profit sharing ratio between the Myanmar Mining
Enterprise, Myanmar Economic Holding Ltd and Wanbao Mining Ltd was
changed to 51:19:30.
In addition, Myanmar Mine Enterprise will
levy 5 million US dollars on Myanmar Economic Holding Ltd, while Wanbao
company will invest 2 million dollars annually for mine reclamation by
opening escrow account with Myanmar Foreign Trade Bank and also invest 1
million dollars annually for corporate social responsibility (CSR).
Besides, all the investors will use 2 percent of the net profit for CSR as of running of the project.
The
implementation committee was formed shortly after the final report of
investigation into the controversial copper mine project was released by
the probe panel led by opposition leader and parliamentarian Aung San
Suu Kyi on March 12, proposing that the project should go on as the best
choice for the economic benefit of the nation and the people.
source: Global Times
http://www.globaltimes.cn/content/801536.shtml#.Ugcff21tfZc
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