In the fourth quarter, Laos is expected to earn USD 463 million in mineral revenues.

[ASEAN NOW]

 

After earning USD 1.464 billion in the first nine months of 2021, Laos aims to earn USD 463 million in the last quarter of this year from mineral sales both locally and for export.

According to the Vientiane Times, Deputy Prime Minister Dr. Sonexay Siphandone informed the National Assembly last week that mineral sales are projected to surpass goals by almost 15% this year.

 

According to Dr. Sonexay, the value of minerals produced in the first nine months of the year was LAK 12.601 trillion (USD 1.18 billion), with the total value for the year expected to be LAK 15.889 trillion.

 

According to the Ministry of Energy and Mines, there are 124 mining firms running 209 projects, including mineral exploration and processing, with 14 businesses currently building new facilities.

 

Laos is estimated to generate mineral products worth USD 7.832 billion between 2021 and 2025, up 4% from the previous five years.

 

Since 1990, the Lao government has enabled international and domestic investors to carry out mining activities, with natural resource discoveries identified in over 570 places around the country.

 

Gold, copper, zinc, potassium, limestone, and lead are presently being mined.

 

The government intends to expand the country's mineral processing capacity in order to lower the amount of raw minerals exported while increasing the value of processed minerals exported.

 

Mineral and mining operations in Laos span approximately seven million hectares, accounting for more than a third of the country's total geographical area.

 

Credit Source: The Laotian Times

 

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