Borikhamxay authorities get green nod for mineral exploration

Borikhamxay provincial authorities recently agreed to sign Memorandums of Understanding (MOUs) with Vientiane Energy Continent Company Limited for the exploration of minerals in two districts of Xaychamphon and Viengthong.

Representatives of the provincial authorities and Vientiane Energy Company shake hands at the MOU signing ceremony.

The MOUs were signed recently between provincial authorities and the company’s representatives and were witnessed by the Deputy Governor of the province, Mr Bounseng Pathammavong.
The concession agreement for the search and exploration of silica will cover an area of about four hectares. The two partners will spend a period of nine months for exploration.
At the same time, the mining exploration project of ore stone in Oudomxay village, Viengthong district, will cover four hectares, and the contract period for exploration is 12 months.
According to the government’s instruction in 2020, an investor proposing to invest in the exploration of precious metals – gold, silver, and platinum needs to declare available finance of US$10 million at a minimum.
Less valuable metals require lower declared minimum capital, which is specified in the timetable of the six-page instructions, which has been posted in the Lao Official Gazette:
https://laoofficialgazette.gov.la/.
However, the investors need to double the amount of the declared finances during the survey proposal period.
Investors or companies proposing to invest in the exploration and surveying of minerals must have at least five years of experience in mining projects.

By Times Reporters
 (Latest Update January 6, 2023)