DMC, a manufacturer and supplier of chemical products and drilling fluids services for the oil & gas sector and other industries, has been licensed to invest in a project to mine for barite in Laos.
The 15-year project will be carried out in two phases. Phase I will focus on barite exploration with funding from DMC.
In phase II, DMC and its Lao partner VTS will set up the DMC-VTS Co. Ltd for barite mining and processing.
DMC will contribute 60 percent of the charter capital to the company while, the remaining, 40 percent, will come from the Lao partner.
According to DMC, a subsidiary of PetroVietnam, the project ended its first phase of exploration and is now under the second phase. DMC and Lao management agencies are accelerating the project progress with an aim of putting it into official operation by the end of this year./.
The 15-year project will be carried out in two phases. Phase I will focus on barite exploration with funding from DMC.
In phase II, DMC and its Lao partner VTS will set up the DMC-VTS Co. Ltd for barite mining and processing.
DMC will contribute 60 percent of the charter capital to the company while, the remaining, 40 percent, will come from the Lao partner.
According to DMC, a subsidiary of PetroVietnam, the project ended its first phase of exploration and is now under the second phase. DMC and Lao management agencies are accelerating the project progress with an aim of putting it into official operation by the end of this year./.
