Vientiane (VNA) - LaoPrime Minister Sonexay Siphandone has instructed relevant agencies to expeditethe drafting of a strategy on rare earth and other minerals, to ensureproper management of mining operations in the country, reported Vientiane Times.
Speaking at the monthly cabinetmeeting held in Vientiane on September 28-29, the premier highlighted theimportance of rare earth for the Lao economy.
As rare earth is in highdemand globally, it is necessary for the government to ensure that Laos fullybenefits from the mining of rare earth deposits, he said.
In recent months, National Assemblymembers have expressed concern about mining operations in Laos, saying that themismanaged export of precious metals and other minerals has resulted in seriousfinancial losses.
They urged the government toset up laboratories to analyse each type of mineral deposit found in Laos,saying that strict oversight and closer collaboration in mining operationswould enable the government to collect more revenue from mining companies andensure that mineral resources were better managed.
Laos's rare earth reserves are estimated to be big. The country has to date signed rare earth explorationcontracts with 18 companies in 18 projects./.
