|25 Feb 2013 08:02 GMTÂ DJ Origo Partners Inks JV to Look at Myanmar Metals Opportunities|
|LONDON-Origo Partners PLC (OPP.LN), a China-focused private equity group, Monday said it has formed a new 50:50 joint venture company with Serge Pun & Associates (Myanmar) Ltd. (“SPA”), one of Myanmarâ€™s leading conglomerates, to identify investment opportunities across the natural resources and other sectors in Myanmar.
-Following the start of liberalisation in Myanmar, the country has the potential to become a significant supplier of goods and raw materials to global markets, in particular China, and it is hoped that the Joint Venture will enable Origo to capture this opportunity.
-The Joint Venture will initially focus on opportunities in metals and minerals exploration, specifically in copper, gold, nickel and other mineral deposits and is undertaking country wide geological mapping.
-In addition, business opportunities are also being reviewed in the broader natural resources sector, particularly in agriculture with SPAâ€™s affiliate Yoma Strategic Holdings Ltd.
-It is anticipated that once opportunities are identified, both Origo and SPA will make investments either directly or through affiliates or funds.
-The Joint Ventureâ€™s Board will consist of Luke Leslie, Head of Mining Investments at Origo who will oversee the Joint Venture, Chris Rynning, CEO of Origo, Serge Pun, Chairman of SPA and Melvyn Pun CEO of SPA who will become Chairman of the Joint Venture.
-The Joint Venture will be headquartered in Yangon, Myanmar within SPAâ€™s offices allowing it access to infrastructural and logistical support.
-To effectively explore opportunities, Origo will redeploy a number of staff to support the existing team.
-Shares at 0800 GMT flat at 14.0 pence.