Aurasian Minerals Tuesday said it has withdrawn the applications it made for three exploration permits in Myanmar and has decided to cease looking for assets in the region due to the slow approvals process and the company's need to focus on opportunities with a nearer-term prospect of creating value according to an Alliance News report on 1 September.
The company announced in June that it was seeking mining assets in Myanmar and that it had lodged applications for three exploration permits totalling 1,900 square kilometres. On Tuesday, it said that it has taken the decision to withdraw the applications following the recommendation of its consultants operating in South-East Asia.