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Laos to continue suspension of mining concessions

Xinhua, October 19, 2016 Adjust font size:

Lao Prime Minister (PM) Thongloun Sisoulith said Wednesday that the government will maintain the moratorium on new mining concessions because it needs more time to inspect activities of some concession holders and mining operators.

Some companies hold concessions but are not actively extracting mineral ores while other companies are operating illegally by falling short of the required environmental standards or failing to comply with other government regulations.

The PM's statement came after the government earlier said it was preparing to lift the moratorium in a bid to boost revenue.

Obviously the mining sector has generated significant revenue and has contributed to the steady growth of the economy for many years. On the other hand, there have been negative impacts on local communities, Thongloun was quoted by local Vientiane Times as saying at a conference currently held in Vientiane.

Over the past five years, the mining sector has generated more than 13.34 trillion Lao kip (1.65 billion U.S. dollars) for government budget. However, the government admitted that this figure would have been higher if some mining companies had fully complied with the regulations.

A halt to new mining projects would enable the government sectors in charge of the inspection and management of mining projects to monitor all ineffective mining companies in Laos, the PM added.

He said that the government will continue negotiations with substandard mining operators to make sure the government earns a fair income from mining projects as well as reconsidering the benefits and negative impacts of various projects.

Thongloun called for the relevant government bodies to conduct surveys on potential mining sites across the country together with foreign experts prior to concessions being approved.

In addition, he said the country should consider the preservation of mineral resources for future generations. Endit