Myanmar

Fuel Oil

Myanmar households maimed as currency topples to record low

A fast devaluation of Myanmar's. currency is pushing up the rates of basics, consisting of food. and medication, debilitating normal households in the Southeast. Asian country wrecked by civil war and a crumbling economy. The Myanmar kyat has been extremely unpredictable in. current days, plunging to a low of 7,500 to the dollar in the. black market last week from 5,000 earlier in the month,. according to 4 forex traders. The plunge followed. reports that the Myanmar junta was printing more kyat to prop up. the currency, two traders said. Individuals are anxiously buying (Thai) baht and selling. kyat, said...

Natural Gas Utilities

Chevron hands Myanmar gas field stake to junta, Thailand's PTTEP

U.S. energy company Chevron has actually stopped the Yadana natural gas field in Myanmar, a representative stated on Monday, more than 2 years after it condemned violence and human rights abuses there and announced it would leave. Rather than being sold, Chevron's 41.1% stake in the gas field was rearranged to the staying shareholders, Thailand's PTT Expedition and Production and state-owned Myanma Oil and Gas Business (MOGE). PTTEP, operator of the gas field, said on Friday its stake in Yadana had increased to 62.96%. The withdrawal offers effect to our objective to exit Myanmar in a controlled and orderly way,...

Environment

Floods in Myanmar leave 19 dead, displace thousands

At least 19 people were eliminated in Myanmar after heavy rains triggered floods in and around the wartorn nation's capital city, with rescuers moving some of the 3,600 people displaced to much safer locations on boats, according to the nationwide fire service. Adverse weather brought on by Tropical cyclone Yagi, the greatest storm to strike Asia this year, has eliminated more than 230 individuals in Vietnam and Thailand, and flood waters from swollen rivers have flooded cities in both countries. Myanmar has actually remained in chaos since a military coup in February 2021 and violence has engulfed large parts of...

Mining

Not-so-rare earths: Sufficient supply weighs on costs of crucial minerals group

Weak demand for rare earths integrated with ample supplies are weighing on rates of the group of 17 minerals utilized in technologies from lasers to EVs, with little nearterm catalyst in sight, industry participants stated. Exports of unusual earths from China, the dominant producer, climbed 7.5% year-on-year in the first seven months of 2024, however rates still fell during that period and are hovering near their least expensive in more than 3 years. We have recently gotten a lot of deals, asking us whether we need cargoes, which makes me feel it's hard for them to discover buyers now, stated...

Mining

Myanmar local military HQ caught, rebels say, in blow to junta

A rebel army in Myanmar stated on Thursday it had seized control of a significant regional military headquarters near the border with China, in what could be the biggest recent defeat for a judgment junta that is battling to contain an expanding revolt. The Myanmar National Democratic Alliance Army (MNDAA) stated it had taken the tactical city of Lashio in northern Shan State, about 120 km (75 miles) from the Chinese border, after 23 days of fighting with federal government soldiers. Our army has won a decisive success and is now clearing out the remaining enemy soldiers. The city is...

Mining

Myanmar's Wa State to allow motion of tin focuses

Wa State authorities in wartorn Myanmar settled on Friday to permit tin concentrate stocks to be transferred out of the self-governing Wa State's. biggest mining region, a document from the group seen . revealed. Wa State, which in impact runs outside the control of. Myanmar's ruling junta, represent about 10% of the world's. tin concentrate supply, according to the International Tin. Association. Allowing concentrate to be moved out will benefit top. consumer China, which imports more than 70% of its needs from. Myanmar. Wa's army suspended mining in Manxiang in August 2023 for a. comprehensive audit of the tin sector,...

Mining

Tin rallies: inventories drop after one party takes a big position

The London Metal Exchange (LME), which is a global exchange, saw tin prices and spreads extend their gains sharply on Thursday. This was due to a large position being taken by one party and concerns about supply. The LME benchmark price of tin is the biggest gainer this year on the exchange, with a 31% increase compared to copper's 13%, as traders have flooded the market. LME Tin advanced 4.2% on Thursday to $34,160 per metric ton, its highest level since June 2022. This is speculating on fundamentals. "I would rule out either a consumer or physical player," said an...