"BURMA, long believed to be a rich mineral province, has been only a minor producer in recent decades, even by Far East standards. Its 1963 mineral output value of roughly US$45 million was fax smaller than that of Thailand, Taiwan, and South Korea, countries not considered prominent in mining. The mineral industry is not of great consequence to Burma?s predominantly agricultural economy; the value or minerals in 1963 was 3.5 percent of the gross national product. However, under British rule before World War II, mineral products were extracted at several times the present level and constituted a significant item in the county?s export trade. Burma?s mineral industry has been concentrated in a few enterprises and mining districts. The leading mineral product, petroleum, came under control of the government enterprise People?s Oil Industry, which took over the Burma Oil Company in 1963. A specific development during the year was the completion of a new oil refinery at Syriam near Rangoon. The Burma Corp. (1951) , Ltd., producing lead, zinc, silver, and other metals at levels less than one-fourth of the historic peaks, was on the verge of becoming nationalized by yearend. The Government?s Petroleum and Mineral Development Corporation (PMDC) planned in 1963 to reopen the Mawchi tin-tungsten mine, idle for many years except for small-scale tributary operations. The small Ywama steel mill in Insein near Rangoon continued to have problems with scrap shortages and high operating costs. The Thayetmyo cement plant increased production substantially without plant expansion, in order to take up the slack caused by import reductions. Plans were made to develop and nationalize the jade industry..."