Minister of Energy and Mines Phoxay Sayasone

(KPL) As of today, the government has authorized 968 companies to invest in the mining sector in the country including 297 companies authorized by the central government and 671 firms by provincial administrations, Minister of Energy and Mines Phoxay Sayasone told the ongoing 7th Ordinary Session of the National Assembly's 9th Legislature on Jun 12.

Mr Phoxay Sayasone said that 93 of all mining investment projects have been proved to be exemplary which include 37 mining projects of iron ore, two of marbles, 10 of gold ore, 31 of gold and other minerals and 13 of rare earths. Both of the normal and pilot projects collectively share 3,186.15 sq km, or equal to 1.35% of the country's area.

The Lao PDR’s mineral deposit is estimated at 14.6 billion tons with potassium sharing the largest portion of 10.12 billion tons, followed by limestone 2.18 billion tons, coal 845 million tons and gold 201 million tons.

Last year, the production of processed and unprocessed minerals reached USD 2.43 billion with minerals sold in the country valued at USD 273.6 million and those exported estimated at 2.6 billion US dollars. Taxes generated by the mining sector were estimated at 322.6 million US dollars.

Mr. Khonpaphan Leuangsichanseng, member of the National Assembly for the 8th constituency (Huaphan Province) called on the government to stop pilot mining projects, especially those for mining rare earths as Mr. Lummai Philavong, member of the National Assembly for the 10th constituency (Vientiane Province) asked the government to inspect the pilot projects against sustainable development and environment friendly standards.

KPL