PetroVietnam drilling mud offshoot to exploit Barite ore in Laos

20-May-2010 Intellasia | VOV | 6:06 PM Print This Post

HNX-listed PetroVietnam Drilling Mud Joint Stock Corp (PVC) has recently officially got investment licence from the Ministry of Planning and Investment (MoPI) to explore and exploit barite ore in Laos.

PVC’s investment project in Laos with a lifespan of 15 years will be broken into two phases.

In the first phase, PVC will invest 100 percent of capital in exploring Barite ore in two years.

In the second stage, PVC and Laos partner will jointly exploit and process Barite ore, of which PVC will invest 60 percent of capital and 40 percent remaining invested by Laos partner.

 


Category: ResourceAsia

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