Saturday, 25 July 2015
Wanbao Mining Limited, headquarter in Beijing, is a wholly state-owned mining investment company with its business focused in mineral resources development and metal trading in Asia and Africa. Since 2010, it has been working with its Myanmar partners on the Monywa copper project in Sagaing region with the total investment to be around US$1.5 billion. Wanbao Mining has two sister companies in Myanmar, i.e. Myanmar Yang Tse Copper Limited ("Myanmar Yang Tse") and Myanmar Wanbao Mining Copper Limited ("Myanmar Wanbao"), which are playing a key role in boosting the development of Myanmar's mining industry while also benefiting the local people.
Myanmar Yang Tse is proud to be the only one producer in Myanmar for its LME registered Grade A Cathode Copper with the brand name of "Monywa S&K", which is mined from its Sabetaung and Kyisintaung (S&K) deposits in the Monywa Copper Mine area. It has a production capacity of 30,000 tons per year and will reach 50,000 tons per year by the end of 2015 in the wake of upgrading of the production facilities still being done. Myanmar Wanbao is developing the nearby Letpadaung deposit, which is the largest part of the Monyawa Copper Mine. It is hoped the Letpadaung mine, which is still under construction, will enter into production in 2015.
Win-Win and mutual benefit
Mineral resources will continue to play a key role in driving sustainable economic growth and boosting the per capita GDP among the people of Myanmar. It creates jobs, contributes to government revenues and nurtures a skilled work force for industrialization in the region.
Wanbao Mining sticks to mutual benefit while developing cooperation with its Myanmar partners, Mining Enterprise No 1("ME1") and Union of Myanmar Economic Holding Limited ("MEHL"). As per Production Sharing Contract, around 70 per cent of interests will go to Myanmar side despite 100% investment made by Wanbao Mining in the Letpadaung project for mine construction and mineral development. It is estimated that, upon entering into production, the Letpadaung project will directly contribute US$140 million annually to Myanmar government revenue. Indirectly, through local procurement, it will bring about US$70 million to local economy in the phase of mine construction within 3 years and US$193 million annually while the mine becomes operational.
As a responsible Chinese company, Wanbao Mining aligns its business strategy with community involvement. The aim for this is two-fold: to create more sustainable employment in the area and region, but also sew the first seeds of industrialization in the area. By creating backward and forward linkages through local procurement, Wanbao Mining hopes to create widest possible supplier network around its business. This will help sustainable development that will extend beyond the eventual decommissioning of the mine. This will also empower local villagers and give them more skills and control their lives.
Monday, 08 June 2015
Wednesday, 18 February 2015
Tuesday, 10 February 2015
With reference to the Amnesty International report titled, "Open for Business? Corporate Crime and Abuses at Myanmar Copper Mine" published today we would like to state that we find the report to be groundless, and we strongly refute its wild allegations and unsubstantiated claims. This report is not acceptable as it relies on hearsay and conjecture rather than on hard facts.
Wanbao Mining Ltd vehemently denies sensationalist claims of collusion with authorities to use force against protestors and villagers. Wanbao supports peaceful dialogue as the best way to achieve social peace and sustainable development.
We also would like to point out that the Amnesty International report quotes heavily out of context from an outdated version of an ESIA that is not the final version. The ESIA was carried out by the internationally renowned and respected Australian consultancy, Knight Piesold. The ESIA has taken over two years to prepare and review, and it was based on community consultations and followed an exhaustive process. During the consultation process a number of environmental and technical issues were raised and these issues were able to be addressed and resolved. The ESIA has gone through extensive reviews for over one year by the Review Team organised by the Ministry of Environment Conservation and Forestry consisting of 45 top environmental and social experts as well as Ministries, NGOs and community representatives in the country and who have paid site visits to similar projects in the Western Australia. Knight Piesold have prepared the ESIA using International Finance Corporation's (IFC) standards as a good practice guide to the achievement of sound environmental, social and health outcomes from the Project's implementation.
Tuesday, 30 December 2014
Official Release (Article)
Dear Media Friends,
Here is the official release (Article) of Myanmar Wanbao Mining Copper Limited.Now it is available in three languages (Myanmar,Chinese and English)
Concerning with Letpadaung news, we hope that you all will describe news in your media with completely justice and righteous ways.
Thanks for your recently contact and cooperation.
Please download the following attachment.
Myanmar Wanbao in Action...
In retrospect to the recent happenings as well as two years of delays in the construction of the Letpadaung copper project, Myanmar Wanbao, as one of the biggest foreign investors in Myanmar, has experienced the hardships arising from the social conflicts during the process of democratization in Myanmar. Objectively, this is unavoidable. Following the mass sit-in protests against the project in November 2012, the Investigation Commission led by Daw Aung San Suu Kyi conducted an in-depth investigation about the Letpadaung project and released a report in March 2013. The Investigation Report arrived at the conclusion that, if overall considerations are given to the economic and social benefits the project will bring about and the international relations it involves, the Letpadaung project should move on provided the improvements are made for the project in accordance with the suggestions made in the report. Thereafter, the Myanmar government created an Implementation Committee chaired by U Hla Tun, Union Minister of President Office, with a number of union ministers being the committee members, to carry out the suggestions of the report. Myanmar Wanbao, as the operator of the Letpadaung project, has been taking active measures to materialize every item of the suggestions in the report and has won good recognition by the Implementation Committee and the overwhelming support by the majority of the local communities. Let's go through what Myanmar Wanbao has done:
Tuesday, 23 December 2014
Yesterday, we lost a member of the extended Letpadaung family, Daw Khin Win .Our hearts and prayers are with her family.
After the tragic and sad news of yesterday, we understand that the situation is much calmer right now.
We are shocked to hear of accounts airing on social networks about Wanbao staff allegedly beating up villagers and carrying knives. And even stories that mention that we are using Chinese security guards. These stories are hurtful and totally untrue. If anything it has been Wanbao staff and contractors who have been at the receiving end of intimidation and beatings by activists and extremists as they carry out their work. These false statements only harm social peace in Letpadaung and demonstrate that there are people who are willing to exploit the tragic events of the last two days to harm the trust we and our community have built together.
We know that the majority villagers in this community, who have become our family and friends, have not participated in violent acts against Wanbao employees, on the contrary we know that our community deplores such actions, and that they deplore that outsiders and extremists are causing such disturbances and violence.
The commencement of construction, will allow Wanbao to continue maximising the developmental returns for the community and Myanmar as a whole.
We reiterate our belief that it is only through peaceful dialogue can peace and sustainable development be achieved.
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