“Chinese-Backed Firm Granted Massive Copper and Gold Exploration Permit in Myanmar”, 3 June 2020

… PanAust received the license… from Myanmar’s Ministry for Natural Resources and Environmental Conservation (MONREC) in Naypyitaw for a block that covers more than 185,000 acres (750 square km) in Sagaing’s resource-rich Wuntho Massif Region.

PanAust is an Australia-based company owned by Guangdong Rising H.K. Ltd, which is a wholly-owned subsidiary of Guangdong Rising Assets Management Co. Ltd (GRAM)... 

In Myanmar, PanAust has formed a joint venture with Myanmar Energy Resources Group International Company Ltd (MERG) called Wuntho Resources Company Limited (WRCL) to carry out the project…

Regional parliament lawmaker U Zaw Linn Oo, who represents Wuntho Township, said local artisanal and small-scale miners would be upset by the government’s decision to give large mining exploration licenses to the foreign-backed company.

“The decision came from the Union level, but here many locals are worried about what they are going to do for a living, because almost all of the major mining projects here are currently in the hands of companies backed by foreign investors,” U Zaw Linn Oo said…

For many years, the Letpadaung copper mine has been operated by Myanmar Wanbao Mining Copper Ltd (MWMCL) and has made headlines due to land disputes and a series of violent crackdowns against anti-mining protesters…

U Zaw Linn Oo emphasized that Sagaing has already suffered massive environmental and social impacts due to mining projects.

“So far, no representatives from the company have come to explain to us about the project,” he said. “Many companies here are the same. They don’t communicate with us at all. They might think that they don’t need to engage with us since they were already granted permission from the Union.”

According to a PanAust press release, the company is focused on a sustainable business model for the production and sale of copper and gold as well as “delivery of production goals and astute, responsible growth.”

PanAust Executive Chairman Qun Yang said “PanAust has made significant improvements to healthcare, education and transportation infrastructure in the areas in which it operates.”…