Latest news with #Mandalay
NHK
14 hours ago
- General
- NHK
UN official fears interest in Myanmar waning three months after quake
Myanmar is struggling to recover from a powerful earthquake that struck exactly three months ago. The disaster killed over 3,700 people and injured many more. One official with the United Nations Development Programme fears international concern has waned. The magnitude 7.7 quake rocked central Myanmar on March 28. Many residents still live in tents and other temporary housing. Workers are struggling to clear rubble and restore infrastructure. The country's second-largest city of Mandalay suffered extensive damage. A 35-year-old woman who lives in a tent with her husband and two children said she wants to rebuild their home as soon as possible, but needs financial support. The quake flattened many offices and factories. Smaller firms have been unable to resume operations due to a shortage of funds and workers. A 53-year-old man who runs a sewing business says he has been living off savings and needs money to tear down his damaged factory. Titon Mitra, who heads the UNDP in Myanmar, is calling for continued global support. He told NHK that he worries about the international community losing interest, adding that he refers to Myanmar not as a "forgotten crisis," but a "neglected crisis."
Business Upturn
a day ago
- Business
- Business Upturn
Mandalay Announces Receipt of Australian FIRB Approval and Interim Order in connection with its Proposed Merger with Alkane
TORONTO, June 26, 2025 (GLOBE NEWSWIRE) — Mandalay Resources Corporation ('Mandalay' or the 'Company') (TSX: MND, OTCQB: MNDJF) is pleased to announce that approval of the Australian Foreign Investment Review Board ('FIRB') has been obtained in connection with the Company's previously announced plan of arrangement under the Business Corporations Act (British Columbia), pursuant to which Alkane Resources Limited ('Alkane') has agreed to indirectly acquire all of the issued and outstanding common shares of Mandalay (the 'Transaction'). On June 26, 2025, FIRB provided written confirmation that the Australian Commonwealth Government has no objection to the Transaction. This satisfies the last outstanding regulatory approval required under the arrangement agreement dated April 27, 2025 in connection with the Transaction. In addition, on June 23, 2025, the Supreme Court of British Columbia (the 'Court') granted an interim order in connection with the Transaction, authorizing the calling and holding of the special meeting of Mandalay shareholders (the 'Meeting') to vote on the Transaction and certain other matters related to the conduct of the Meeting. Key Milestones Ahead: The Meeting has been scheduled for July 28, 2025. The management information circular of Mandalay (the ' Circular ') and the related meeting materials have been filed on SEDAR+ and will be mailed to beneficial shareholders on July 7, 2025. ') and the related meeting materials have been filed on SEDAR+ and will be mailed to beneficial shareholders on July 7, 2025. The Transaction remains subject to receipt of the final order from the Court, the approval of Mandalay shareholders and Alkane shareholders, and the satisfaction or waiver of other customary closing conditions. The Transaction is expected to close in early August 2025. The Transaction has been unanimously approved by the board of directors of Mandalay (the 'Board'), and accordingly the Board recommends that shareholders vote in favour of the Transaction at the Meeting. Frazer Bourchier, President, and CEO commented: 'This represents a key milestone in advancing and de-risking the merger. With all regulatory approvals in hand and the Circular filed, we're looking forward to completing the Transaction and forming a new, diversified mid-tier gold and antimony producer. We believe that the enhanced scale and financial strength of the combined company will provide a strong foundation to unlock shareholder value and support a meaningful re-rating.' For Further Information: Frazer Bourchier President and Chief Executive Officer Edison Nguyen Director, Business Valuations and IR Contact: 647.258.9722 About Mandalay Resources Corporation: Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia (Costerfield gold-antimony mine) and Sweden (Björkdal gold mine). The Company is focused on growing its production and reducing costs to generate significant positive cashflow. Mandalay is committed to operating safely and in an environmentally responsible manner, while developing a high level of community and employee engagement. Forward-Looking Statements This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation and may include future-oriented financial information or financial outlook information (collectively 'Forward-looking Information'). Forward-looking Information may relate to future outlook and anticipated events, such as the consummation and timing of the Transaction. Forward-looking Information is generally identified by the use of words like 'will', 'create', 'enhance', 'improve', 'potential', 'expect', 'upside', 'growth' and similar expressions and phrases or statements that certain actions, events or results 'may', 'could', or 'should', or the negative connotation of such terms, are intended to identify Forward-looking Information. Although Mandalay believes that the expectations reflected in the Forward-looking Information are reasonable, undue reliance should not be placed on Forward-looking Information since no assurance can be provided that such expectations will prove to be correct. Forward-looking Information is based on information available at the time those statements are made and/or good faith belief of the officers and directors of Mandalay as of that time with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the Forward-looking Information. Forward-looking Information involves numerous risks and uncertainties. Such factors include, without limitation: risks related to the closing of the Transaction; risks relating to changes in the gold and antimony price and the factors identified in the section titled 'Risks Related to the Business' in Mandalay's most recently filed Annual Information Form which is available on SEDAR+ at . Forward-looking Information is designed to help readers understand Alkane and Mandalay's views as of that time with respect to future events and speak only as of the date they are made. Except as required by applicable law, Mandalay assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the Forward-looking Information. If Mandalay updates any one or more forward-looking statements, no inference should be drawn that either company will make additional updates with respect to those or other Forward-looking Information. All Forward-Looking Information contained in this news release is expressly qualified in its entirety by this cautionary statement. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
CNA
2 days ago
- Politics
- CNA
Myanmar burns confiscated drugs worth around US$300 million
YANGON: Nearly US$300 million worth of confiscated illegal drugs were destroyed in Myanmar's major cities on Thursday (Jun 26) to mark the annual International Day Against Drug Abuse and Illicit Trafficking, officials said. The drug burnings came nearly a month after UN experts warned of unprecedented levels of methamphetamine production and trafficking from Southeast Asia's Golden Triangle region and Myanmar's eastern Shan State in particular. The country has long been a major source of illegal drugs destined for East and Southeast Asia, despite repeated efforts to crack down. The UN agency labelled it in 2023 as the world's largest opium producer. In the country's biggest city, Yangon, a massive pile of drugs worth more than US$117 million went up in a spectacular blaze. The destroyed drugs included opium, heroin, methamphetamine, marijuana, ketamine and the stimulant known as ice, or crystal meth, Yangon Police brigadier general Sein Lwin said in a speech at a drug-burning ceremony. Similar events also occurred in the country's second-largest city of Mandalay, and in Taunggyi, the capital of eastern Myanmar's Shan state, all areas close to where the drugs are produced. A police official from the capital Naypyitaw told the Associated Press that the substances burnt in three locations were worth US$297.95 million. The official spoke on condition of anonymity because the information has not yet been publicly announced. Myanmar has a long history of drug production linked to political and economic insecurity caused by decades of armed conflict. Eastern Myanmar is part of the infamous Golden Triangle, where the borders of Myanmar, Laos and Thailand meet. The production of opium and heroin historically flourished there, largely because of the lawlessness in border areas where Myanmar's central government has been able to exercise only minimum control over various ethnic minority militias, some of them partners in the drug trade. The United Nations Office on Drugs and Crime said in a report in May that the political crisis across the country after the military takeover in 2021 - that has led to what is now a civil war - has turbocharged growth of the methamphetamine trades. That has caused the flow of drugs to surge 'across not only East and Southeast Asia, but also increasingly into South Asia, in particular Northeast India' the report said. Drugs are increasingly trafficked from Myanmar to Cambodia, mostly through Laos, as well as through maritime routes 'linking Malaysia, Indonesia, and the Philippines, with Sabah in Malaysia serving as a key transit hub.'
Associated Press
2 days ago
- Associated Press
Myanmar burns confiscated drugs worth around $300 million
YANGON, Myanmar (AP) — Nearly $300 million worth of confiscated illegal drugs were destroyed in Myanmar's major cities on Thursday to mark the annual International Day Against Drug Abuse and Illicit Trafficking, officials said. The drug burnings came nearly a month after U.N. experts warned of unprecedented levels of methamphetamine production and trafficking from Southeast Asia's Golden Triangle region and Myanmar's eastern Shan State in particular. The country has long been a major source of illegal drugs destined for East and Southeast Asia, despite repeated efforts to crack down. The U.N. agency labeled it in 2023 as the world's largest opium producer. In the country's biggest city, Yangon, a massive pile of drugs worth more than $117 million went up in a spectacular blaze. The destroyed drugs included opium, heroin, methamphetamine, marijuana, ketamine and the stimulant known as ice, or crystal meth, Yangon Police Brig. Gen. Sein Lwin said in a speech at a drug-burning ceremony. Similar events also occurred in the country's second-largest city of Mandalay, and in Taunggyi, the capital of eastern Myanmar's Shan state, all areas close to where the drugs are produced. A police official from the capital Naypyitaw told the Associated Press that the substances burnt in three locations were worth 297.95 million US dollars. The official spoke on condition of anonymity because the information has not yet been publicly announced. Myanmar has a long history of drug production linked to political and economic insecurity caused by decades of armed conflict. Eastern Myanmar is part of the infamous Golden Triangle, where the borders of Myanmar, Laos and Thailand meet. The production of opium and heroin historically flourished there, largely because of the lawlessness in border areas where Myanmar's central government has been able to exercise only minimum control over various ethnic minority militias, some of them partners in the drug trade. The United Nations Office on Drugs and Crime said in a report in May that the political crisis across the country after the military takeover in 2021 – that has led to what is now a civil war – has turbocharged growth of the methamphetamine trades. That has caused the flow of drugs to surge 'across not only East and Southeast Asia, but also increasingly into South Asia, in particular Northeast India,' the report said. Drugs are increasingly trafficked from Myanmar to Cambodia, mostly through Laos, as well as through maritime routes 'linking Malaysia, Indonesia, and the Philippines, with Sabah in Malaysia serving as a key transit hub.'
Khaleej Times
19-06-2025
- Politics
- Khaleej Times
Myanmar's Aung San Suu Kyi marks 80th birthday in junta jail
Myanmar's deposed democratic leader Aung San Suu Kyi marked her 80th birthday in junta detention on Thursday, serving a raft of sentences set to last the rest of her life. Suu Kyi was the figurehead of Myanmar's decade-long democratic thaw, becoming de facto leader as it opened up from military rule. But as the generals snatched back power in a 2021 coup, she was locked up on charges ranging from corruption to breaching Covid-19 pandemic restrictions and is serving a 27-year sentence. "It will be hard to be celebrating at the moment," said her 47-year-old son Kim Aris from the UK. "We've learned to endure when it's been going on so long." He is running 80 kilometres (50 miles) over the eight days leading up to her birthday, and has collected over 80,000 well-wishing video messages for his mother. But Suu Kyi will not see them, sequestered in Myanmar's sprawling capital Naypyidaw from where the military directs a civil war against guerilla fighters. Aris said he has heard from his mother only once via letter two years ago since she was imprisoned. "We have no idea what condition she's in," he said, adding that he fears she is suffering from untreated medical problems with her heart, bones and gums. 'Do you still remember?' No formal celebrations are planned in junta-held parts of Myanmar, but a gaggle of followers in military-controlled Mandalay city staged a spontaneous protest ahead of her birthday, local media said. A few masked protestors showered a street with pamphlets reading "freedom from fear" and "happy birthday" as one member help up a portrait of Suu Kyi in shaky camera footage shared on social media. "Do you still remember this great person?" asked one of the protestors in the video, which AFP has not been able to independently verify. While Suu Kyi remains hugely popular in the majority Buddhist country, her status as a democracy icon abroad collapsed before the military takeover after she defended the generals in their crackdown against the Rohingya Muslim minority. Hundreds of thousands were sent fleeing to neighbouring Bangladesh under her rule, though some argued she was powerless against the lingering influence of Myanmar's military. Nonetheless institutions and figures that once showered Suu Kyi with awards rapidly distanced themselves, and her second round of imprisonment has received far less international attention. Locked away birthday Suu Kyi, the daughter of Myanmar independence hero Aung San, became a champion of democracy almost by accident. After spending much of her youth abroad, she returned in 1988 to nurse her sick mother but began leading anti-military protests crushed by a crackdown. She was locked up for 15 years, most of it in her family's Yangon lakeside mansion where she still drew crowds for speeches over the boundary wall. The military offered freedom if she went into exile but her poised refusal thrust her into the spotlight and won her the 1991 Nobel Peace Prize. Suu Kyi was released in 2010 and led her National League for Democracy party to electoral victory in 2015, never formally in charge as army-drafted rules kept her from the presidency. If the octogenarian were released from her current incarceration, Aris predicts she would likely step back from a "frontline position" in Myanmar politics. The military has promised new elections at the end of this year, but they are set to be boycotted by many groups comprised of former followers of Suu Kyi's non-violent vision who have now taken up arms.
