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Singapore-registered
company to dig for gold in Burma
DAP
17 Feb
08
http://www.bangkokpost.com/breaking_news/breakingnews.php?id=125971
The
Burmese military regime has agreed to let Russia's Glory
International Pte Ltd search for gold and other minerals in the
country's northern Kachin State, which borders China, state media
said Saturday.
The exploration agreement was signed
between Win Ti, Director-General of Burma's Geological Survey and
Mineral Exploration Department, and Krivoshey Pavel, Chairman of
Victorious Glory International Pte on Friday in Naypyitaw, the
country's new capital.
Under the agreement, Glory
International will be allowed to search for gold and other
minerals along the Uru River between Phakant in Kachin State and
Homalin of Sagaing Division, The New Light of Myanmar
newspaper said.
Although Glory International claims to be
a Russian firm, its parent firm Chandwin Projects Pte Ltd, also
headed by Mr Pavel, actually was incorporated in Singapore only
last year.
At the firm's website, registered in
Singapore, Mr Pavel is described as a professional mining
engineer with over 20 years of experience in mine development and
mine management. Chandwin's mission is defined simply as
"discovering, acquiring, developing, producing and marketing
mineral resources at a profit."
It lists two offices
in Singapore, and none in Russia, although it claims to have
staff based in Russia. The backers of the firm are described as
"Switzerland partners," with no names provided.
Some
consider that Burma, a former socialist country that closed its
doors to the outside world between 1962 to 1988, is one of Asia's
last treasure troves for untapped minerals.
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