"Burma?s mineral industry had a disappointing year during 1973. Oxe production from the Bawdwin non ferrous metal mine near Lashio recorded a substantial increase over 1972 output; however, production of refined lead and silver from this mine again declined owing to the continuing decline in the ore grade. Production of tin and tungsten increased over that of 1972. A 53% increase in output from the Mawshi tin-tungsten mine accounted for much of the increase. The Burmese Government?s decision to invite foreign participation in offshore oil exploration, on a profit-sharing basis, was the highlight of 1973. At yearend, a decision was expected shortly on which firms would be awarded contracts. Meanwhile Myanma Oil Corp. (MOC) continued its own exploratory drilling program, drilling four more holes offshore without any finds. In July, new commodity and project agreements were signed with Japan. The project agreement provided for a long-term loan of $26.9 million to finance construction of a new oil refinery at Syriam with a throughput capacity of about 1 million tons per year. This would roughly double existing Burmese refining capacity. The Government reorganization of April 1972 provided for six agencies under the Ministry of Mines as follows: Myanma Oil Corp. (MOC); Myanma Bawdwin Corp. (MBC), to operate Bawdwin and other mines producing lead, zinc, and silver; Myanma Tin and Wolfram Corp.; Myanma Mineral Development Corp. (MDC), to supervise production of copper, antimony, and other minerals not falling under the previous two agencies; Mineral Industrial Raw Materials Corp., to produce limestone, barite, industrial clays, and related items; and the Geological Survey and Exploration Department. These agencies are responsible for general control and supervision of the mining sector, as well as direct operation of the larger and more productive mines. Smaller, mainly tin, mines operate on a tribute system, with miners, registered by the Government, working largely by hand and delivering their output to government purchase depots at fixed prices. In practice, however, much of the output is probably smuggled into Thailand, where it can be sold more conveniently and usually at higher prices. Minerals occupy a prominent place in Burmese economic planning. However, the mineral sector has not received a corresponding share of capital investment. In fiscal year 1972-73 (October through the following September) 6.1% of the Government capital expenditure was designated for the mining sector as follows: MOC, S14.7 million; MBC, $3.5 million; and MDC and others, $5.4 million..."