In Myanmar, PanAust holds an 90 per cent interest in Wuntho Resources Company Limited (WRCL) and has established a joint venture with Myanmar Energy Resources Group International Company Limited (MERG), a Myanmar-based company which holds the remaining 10 per cent of WRCL. WRCL holds seven Exploration Licences that encompass approximately 1,500 square-kilometres in Sagaing Region.
On 27 May 2020, PanAust announced it had secured its latest Exploration Licence in Myanmar. The granting of the Wuntho 3 Exploration Licence was the culmination of a 20-month collaboration between the Company, the Government of the Republic of the Union of Myanmar and local stakeholders in Sagaing Region.
On 5 July 2018 – following the approval from the Government of the Republic of the Union of Myanmar – PanAust announced it had been awarded thee Exploration Licences in the Sagaing Region. Covering copper and gold prospecting and exploration, the Licences were the first awarded under the Myanmar Union Government's new minerals regulations.
The 2018 Licences complement those granted in 2016, marking PanAust’s first venture into Myanmar. The 2016 Exploration Licences lie within a 213 square-kilometre contract area in the Sagaing Region and cover three tenement blocks: Hel Chain, Pin Hin Hka and Nam Awl.
PanAust, including all its subsidiaries and local partners, has a zero tolerance policy regarding bribery and corruption. PanAust's code of conduct - 'The PanAust Way' - outlines the Company's stance on this issue, and outlines the minimum standard of behaviour expected of PanAust directors, employees and business partners when working for or with PanAust.