August 10, 2024
Reports have surfaced claiming that the People’s Defense Forces of Mandalay (MDY-PDF) have taken control of a gold mine owned by former Mandalay Region Chief Minister U Maung Ko. The mine, known as Phayaung Taung Gold Mine, is located in the Patheingyi Township of Mandalay Region.
The Phayaung Taung Gold Mine, spanning over 5,000 acres, is a significant gold extraction site owned by U Maung Ko and operated in partnership with Myanmar Golden Point Family Company and the No. 2 Mining Enterprise under the junta’s control. The mine is located approximately 14 miles northeast of Mandalay city and is estimated to contain around 47,000 tons of gold and other minerals.
In mid-July, the MDY-PDF had reportedly taken control of the Alpha Cement Plant, a Chinese investment project also located in Patheingyi Township.
According to reports, MDY-PDF forces, numbering around 30, carried out an attack on the Phayaung Taung Gold Mine using drones and explosives, leading to the retreat of junta forces guarding the site.
As of now, MDY-PDF has not officially confirmed or announced the seizure of the Phayaung Taung Gold Mine. Further details are awaited.
