Myanmar

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,...

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...

Mining

Falling stocks and more supply trouble sends out tin skywards: Andy Home

The London Metal Exchange ( LME) tin rate has risen to near twoyear highs this week as exchange inventory slides and yet another risk to a currently stressed out supply chain emerges. LME three-month metal struck $33,130 per metric heap on Wednesday, a level last traded in June 2022. Presently trading at $32,000, tin is now up by 27% since the start of the year. Copper, the second-best entertainer amongst the LME base metals suite, is up by a relatively modest 10% since the start of January. Speculative purchasing has played its part in the sharp rally, with fund positioning...

Mineral Resources

Myanmar's embattled junta chief takes on function of nominal president

All duties of Myanmar's token president have been moved to the chief of the judgment junta, Minutes Aung Hlaing, after the small head of state was placed on medical leave following a period of extended health problem, state television stated on Monday. Myanmar has actually been in swallowed up in chaos since Feb. 2021 when the military led by Min Aung Hlaing ousted an elected civilian government in a coup, activating a wave of protests that has transformed into an across the country armed rebellion versus the junta. Although Myint Swe, 73, is just a token president, the junta has...

Mineral Resources

Myanmar's ethnic armies consolidate fortress as junta weakens, reports say

Myanmar's judgment junta has lost control over huge tracts of territory, consisting of access to much of its worldwide borders, allowing ethnic armed groups to expand and consolidate areas under their control, 2 reports evaluating the conflict stated on Thursday. The country of 55 million people has actually been in turmoil given that February, 2021 when the military ousted an elected government led by Nobel laureate Aung San Suu Kyi, sparking prevalent protests. The street presentations, which were consulted with a ruthless crackdown, changed into an armed resistance movement that has integrated with many of Myanmar's ethnic rebel armies to...