Is Myanmar rich in minerals?

Abstract: Myanmar is rich in mineral resources, and of potential importance are the deposits of antimony, chromium, nickel, PGM, copper, gold, lead, zinc, silver, tin and tungsten, which form district metallogenic provinces within the six geomor- phic-tectonic units.

What resources does Myanmar export?

Coal, oil, and natural gas all feature prominently in Myanmar’s wealth of natural resources. The most important of these is natural gas, which is estimated to account for 40% of the export of Myanmar. It is the 39th biggest producer of natural gas currently and exported around $6 billion of petroleum in 2016.

What is Myanmar main source of income?

The Myanmar government’s main source of revenue in recent years has been the export of natural gas to Thailand. Another major source has been taxes on domestic and international trade.

What is the main industry in Myanmar?

Some of the leading industries in Myanmar include agriculture, mining, and tourism, among others.

What kind of Natural Resources does Myanmar have?

Resources and power. Myanmar is rich in minerals, including metal ores, petroleum, and natural gas, and also has significant deposits of precious and semiprecious stones.

How much money does Myanmar make in mining?

Some experts think that the amount of money made from the mining sector in Myanmar is heavily downplayed. Based on data available, in 2016, the US Department of State estimated a total export value of USD$15.7 billion, of which a significant proportion was natural resources.

Where does Myanmar get its natural gas from?

Foreign currency earnings from gas sales since around 2000 have likely prevented Myanmar’s economy from experiencing a disaster and helped the military junta survive despite international sanctions. Despite a shortage of natural gas for the domestic market, most of the natural gas is exported. Currently all gas exports go to Thailand.

Are there any extractive industries in the country of Myanmar?

However, a study commissioned by Myanmar EITI in 2016 estimated that 60-80% of gemstones produced in the country are not declared and therefore bypass the formal system. Myanmar has Mining Law, Gemstone Law and Petroleum Law but contracts typically govern all extractive projects.