愛華網(wǎng)繁霜按：香港上市的中國(guó)多金屬礦業(yè)有限公司在云南經(jīng)營(yíng)多年，熟悉緬甸情況，從其慎重對(duì)待緬甸投資風(fēng)險(xiǎn)的態(tài)度和規(guī)避緬北的意圖，可以判斷緬軍借口中國(guó)水電項(xiàng)目在撣邦北部胡作非為純屬一意孤行。最關(guān)鍵的是，局部經(jīng)濟(jì)利益服從國(guó)家安全戰(zhàn)略利益的新思路已經(jīng)確立，對(duì)政治極度敏感的中國(guó)大企業(yè)豈能在朝鮮半島危機(jī)、東海危機(jī)、南海危機(jī)不斷加劇的當(dāng)口，再幫棄華投美的緬軍搞出一個(gè)西南邊境戰(zhàn)爭(zhēng)危機(jī)，給國(guó)家添堵，給自己惹禍。
【摘譯自《云南礦業(yè)公司在緬甸試運(yùn)氣》（《南華早報(bào)》2013年4月8日）】云南省最大的鉛鋅礦資源擁有者中國(guó)多金屬礦業(yè)有限公司，正在鄰國(guó)緬甸尋找機(jī)會(huì)以獲得資源。
今年初，該礦業(yè)公司派出一名地質(zhì)學(xué)家和其他人員了解緬甸政府官員推薦的投資項(xiàng)目，緬甸政府官員急于看到外國(guó)投資于該國(guó)大量未曾開發(fā)的礦藏財(cái)富。
“與大陸相比，獲得東南亞礦產(chǎn)的成功機(jī)會(huì)高很多，運(yùn)營(yíng)費(fèi)用也更低。”首席財(cái)務(wù)官李濤上月下旬對(duì)《南華早報(bào)》說。
大陸礦產(chǎn)競(jìng)爭(zhēng)激烈，他補(bǔ)充道，這意味著即使是風(fēng)險(xiǎn)很高的早期開發(fā)性項(xiàng)目也經(jīng)常會(huì)抬價(jià)。
在緬甸外國(guó)公司有望被允許獨(dú)自擁有項(xiàng)目，而且享有5年公司稅免稅期。
這些條款是緬甸新礦業(yè)法的構(gòu)成部分，該法預(yù)計(jì)將在今年通過以促進(jìn)對(duì)這個(gè)迅速自由化國(guó)家的投資。緬甸于2011年結(jié)束了數(shù)十年的軍人統(tǒng)治，大部分國(guó)際制裁隨之被解除。
李說，由于需要考慮法律、政治和安全風(fēng)險(xiǎn)，因此仔細(xì)進(jìn)行盡職調(diào)查很重要。中國(guó)多金屬礦業(yè)有限公司有可能避開不太安定的緬甸北部地區(qū)，將注意力投向東部，他補(bǔ)充說。
去年下半年在緬甸中部對(duì)蒙育瓦銅礦示威者的暴力鎮(zhèn)壓就是這種風(fēng)險(xiǎn)的一個(gè)案例。抗議者對(duì)被征用土地補(bǔ)償不夠感到不滿，對(duì)環(huán)境損害可能性感到擔(dān)憂。
對(duì)資源潛力的第三方專業(yè)審計(jì)也是必需的，李說。他估計(jì)達(dá)成交易之前的資源獲取過程至少為一年。
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Yunnan miner tries its luck in Myanmar
Monday, 08 April, 2013
China Polymetallic Mining, the biggest lead and zinc resource holder inYunnan province, is exploring opportunities to acquire resources inneighbouring Myanmar.
Earlier this year, the minersent a geologist and other staff to scout out investment prospectsrecommended by Myanmar government officials eager to see foreigninvestment in the country's largely untapped mineralwealth.
"Relative to the mainland,the chances of success in acquiring Southeast Asian mining assetsare much higher and the operating costs are lower," chief financialofficer Li Tao told theSouth China MorningPostlate last month.
But competition for miningassets on the mainland was keen, he added, which meant prices wereoften bid up despite the fact that many of them were higher-riskearly exploration projects.
Foreign firms were expectedto be allowed to wholly own projects in Myanmar, and they wouldenjoy five-year corporate tax holidays, Li said.
The terms are part ofMyanmar's new mining law that is expected to be passed this year toboost investment in the rapidly liberalising country, which endeddecades of military rule in 2011 and saw the lifting of mostinternational sanctions subsequently.
Li said careful duediligence was important as there were legal, political and securityrisks to consider. China Polymetallic might avoid the less stablenorthern region and focus on the east, he added.
A violent crackdown onprotestors at the Monywa copper mine in central Myanmar late lastyear is an example of such risks. The protestors complained aboutinsufficient compensation for alleged land grabs and raisedconcerns about possible environmental damage.
Auditing of resourcespotential by third-party professionals was also needed, Li said. Heestimated the acquisition process to take at least a year before adeal could be sealed.
Under an internal guideline,any asset acquired by China Polymetallic should have an estimatedinternal rate of return of at least 25 per cent. The firm boughtthree mines in Yunnan last year and has been designated by theprovincial government as a consolidator of its miningsector.
It posted a net profit of177 million yuan (HK$219.1 million) for last year, compared with aloss of 244.3 million yuan in 2011, as it ramped up output at itsmainstay Shizishan mine that began production in mid-2011. Themine's lead output is targeted to rise to 38,500 tonnes next yearfrom 20,300 tonnes last year, while zinc output will increase to28,700 tonnes from 16,500 tonnes.
About 75 per cent of leadconsumed on the mainland is used in battery manufacturing, whilezinc is mostly used to coat steel to prevent corrosion.
The company budgeted 319million yuan this year to expand or develop its six mines, four ofwhich are expected to come on stream by June 2015.
