Nitric acid used in refining the scrap gold is steadily flowing into the country, said U Myo Myint, chair of Yangon Region Gold Entrepreneurs Association (YGEA).
Myanmar sees the inflow of nitric acid through sea trade and border posts.
Last month, the lack of nitric acid led to the low supply of finished gold and jewellery products. Earlier, about 15 to 20 viss of gold (a viss equals 1.6 kilogrammes) were refined and manufactured per day. At present, only two visses of gold are daily purified, said U Myo Myint.
On 22 and 23 June, the officials from YGEA met with the trade facilitation committee members in Nay Pyi Taw regarding the market needs and requested the requirements of nitric acid in manufacturing.
The committee gave green light to this proposal and nitric acid will be sold under the recommendation of YGEA. The committee urged the YGEA to submit the list of those manufacturers who want to purchase nitric acid.
Therefore, the YGEA called for a listing on 24 June.
“We just call for the list of those in need. The ship loaded with nitric acid arrives at that time. Moreover, the inflow of nitric acid via border posts is also witnessed. The shortage problem has been sorted out accordingly”, U Myo Myint elaborated.
Nonetheless, the YGEA will submit a report if the businesses want them. There are more than 630 members under YGEA. – NN/GNLM
Myanmar sees nitric acid inflow for gold refining
- July 12, 2021
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