10 August 2023

Thank you for giving us an opportunity to respond to the request from the Business & Human Rights Resource Centre regarding Justice For Myanmar’s press release dated July 21, 2023 (https://www.justiceformyanmar.org/press-releases/jfm-welcomes-eu-sanctions-on-myanmar-junta-mining-enterprise-individuals) about the Y Complex Project (the “Project”).

Y Complex Company Limited has suspended operation of the Project entirely, including its payments on the land lease, since February 1, 2021.

We are seriously concerned about the recent sanctions imposed by the United States, the EU, and other countries.

We consider the safety of the relevant stakeholders in the Project to be the top priority, and continue to monitor the situation closely, including the potential impact of relevant sanctions on the Project.