In recent weeks three ASX-listed Australian junior exploration companies – Avenue Resources, Intercept Minerals and Eumeralla Resources – have announced first steps in trying to tap the tin and tungsten resource potential of Myanmar. Myanmar, formerly Burma, is the largest country in mainland SE Asia and includes a belt of tin-tungsten mineralisation mainly running along its eastern border with Thailand. The country’s Department of Geological Survey and Mineral Exploitation has identified 480 tin and tin-tungsten deposits, with potential primary and alluvial resources in the order of 40 million tonnes of ore.
Avenue Resources (ASX code: AVY) announced on 11 June that it had agreed to merge with Lotus Mining by acquiring 100% of its issued capital through a one-for-two share offer. Avenue is already involved in tin exploration in Brazil. Lotus is described as “an unlisted tin explorer with strong relationships and project acquisition opportunities in Myanmar”. Lotus CEO Stephen Thompson is set to become managing director of Avenue, as part of a strategy to turn the company “into a global tin producer with a focus on high-grade, low capital expenditure mining operations”.
Intercept Minerals (ASX: IZM) said on 28 June that it had entered into a three way MOU with Ruby Dragon Mining of Myanmar and MSP Engineering to evaluate mining and exploration opportunities in Myanmar, initially focussing on tin, tungsten and gold. They also plan to carry out a conceptual study on the establishment of central tin-tungsten ore processing and smelting facilities to treat material from company-owned mines and local miners. The Ruby Dragon group is a diversified business with over 3,000 employees, including mining interests in gold, antimony, tin, coal and gem stones. This is Intercept’s first venture into tin.
Eumeralla Resources (ASX: EUM) announced another tie-up with a local partner on 1 July. Together with the Myanmar Energy Resources Group (MERG) it has applied for a 400 km2 exploration lease in Kayah state, which is the home of the Mawchi tin and tungsten mine in Bawlake. If the application is approved by the Ministry of Mines and Myamar Investment Commission, this would be one of the largest concessions in the country involving a foreign company. MERG is a conglomerate focussing on resource projects whose mining partners have included the operators of the Mawchi mine and Bawdwin lead/zinc/silver operation. Eumeralla, whose original focus had been on a tungsten project in Mongolia, has two other local JV exploration partners in Myanmar.
