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July 14, 2020

Australian PanAust Co gets licence for Wuntho 3 exploration in Sagaing Region

By Nyein Nyein

“The granting of Wuntho 3 Exploration Licence is the result of a two-year collaboration between the company, the Government of the Republic of the Union of Myanmar and the local stakeholders in Sagaing Region, stated PanAust Executive Chairman Dr Qun Yang, after receiving the licence handed over to the company representatives at an official ceremony held at Nay Pyi Taw on 27 May.
An Australia-based company, PanAust, has been granted a licence for Wuntho 3 exploration in Sagaing region, according to the PanAust company.
The granted Wuntho 3 exploration industry has an area of 750 square kilometres in the high prospective Wuntho Massif region, according to the PanAust company.
PanAust company will continuously effectuate the development of the exploration programme, which will contribute toward the development of the country, he added.
“Given our operating assets are located in neighbouring Laos, we are uniquely placed to effectively deploy an exploration team to investigate the site when safe to do so in accordance with the local and international travel restrictions because of coronavirus pandemic,” he stressed.
Moreover, PanAust has made significant improvements to healthcare, education and transportation infrastructure in the areas in which it operates. While progressing our exploration activities, PanAust can create job opportunities for the residents too, he highlighted. PanAust was the first company to be awarded exploration licence in 2018 under the government new mineral regulations.
Moreover, three similar licences were awarded in 2016. Since then, the company has carried out a strong exploration programme while adhering to the international best practices for environmental protection and community engagement.
In Myanmar, PanAust holds a 90-per-cent interest in Wuntho Resources Company Limited (WRCL) with joint venture partner Myanmar Energy Resources Group International Company Limited (MERG), a Myanmar-based company which holds the remaining 10 per cent of WRCL.
WRCL holds seven exploration licences that cover approximately 1,500 square kilometres in Sagaing region. (Translated by Hay Mar)

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