Laos wants larger local, foreign investment in mining

Laos is encouraging both local and foreign investors in mineral exploration and exploitation, local newspaper Vientiane Times reported Wednesday.

Many mines in Laos, including gold, copper, lead, zinc, iron ore, tin, coal and gemstones, have not been explored, due to lack of funds and inadequate experience and know-how of Lao staff in the mineral industry, it said, adding the country will persuade investors to conduct more detailed explorations.

Some five mining projects will become operational in the next five years, said Lien Thikeo, vice president of the country's Planning and Investment Committee.

The number of local and foreign companies licensed by the Lao government to invest in geological prospecting and mineral exploitation has so far reached 66. Several of them export what they pull out of the ground.

Every year, a gold and copper mining project in Savannakhet province sells overseas six tons of gold, while a project in the same province exports some 100,000 tons of gypsum to Vietnam, and two mining operations in Khammuan province export around 550 tons of tins, the report said.

So far mineral production in Laos is limited to small quantities of tin, gypsum, coal, gold, copper, raw minerals for construction, and sapphires for export.

Source: Xinhua