The local government will review safety protocols following an explosion in the major mining region of Man Maw, Myanmar.
On 4 May, an explosion at a mining site in Man Maw tragically killed nine workers, injuring a further 30. In response, the local government has issued a statement calling for a review of mine safety.
The review will take place over the next three months. Although the statement asserts that “all substandard mines will be closed” for that period, local sources indicate that this is not the case. The local government will instead review mines individually, closing them for a shorter period.
Our view: The events on 4 May were tragic, and the resulting review will help to improve the safety standards of mines in the Man Maw area. The impact to the tin market, however, is likely to be limited.
Although COVID has peaked in Myanmar, there are still some new cases which are reducing operating hours at mines and processing plants. On top of this, some mines are struggling with cash flow. Major smelters in China have recently ceased concentrate purchases from Myanmar, due to long-term deals with other producers and a lack of demand for refined tin.
