Agra Mining case, more than WIN-WIN ‘Big Tu’ Satisfied! pushing Thailand to become a fully integrated gold production base

Keeping an eye on the dispute between the Thai government and Kingsgate over the closure of the Agra gold mine for more than 5 years, leading to a greater conclusion. WIN-WIN resulted in Thailand being a fully integrated gold production base while the former Akara Company Will be sent to ‘Heraeus’ in Hong Kong to produce and separate to get 99.9% pure gold, but from now on, it has to be PMR company. of Thailand only
Identify gold and silver minerals according to the concession certificate area, with a total value of over 90 billion baht. Prepare to launch cooperation and pure gold works 99.9% ‘Agra-PMR’ at the Bangkok Gems & Jewelr Fair on 7-11 this September, while the Agra Gold Mine has renewed all 3 types of licenses and opened the gold mine. Expected to be early 2023 and recruit more than 1,000 Thai people to work.

5 years have passed since the government Gen. Prayut Chan-o-cha ordered Section 44 to close the company’s gold mines. Akara Resources Public Company Limited, which has Kingsgate Consolidated Company Limited, Australia. The major shareholder holds the gold mining concession certificate. There have been prosecutions and fights between the Thai government and Kingsgate in international arbitration as well as parallel negotiations to reach a consensus. for the best benefit to all parties

To this day, parallel negotiations are leading a path where all parties may feel more than WIN-WIN, especially the arguments that the government has come to fight. As a result, Agra gold mines have to comply with a new law, namely the Mineral Act B.E. 2560, which is different from the Mineral Act B.E. 2510 that was used before. The management of minerals is not suitable for the current situation. including the care of health impacts, the environment, and remedies for those affected by mining. But the new ones are more concentrated, requiring the establishment of various funds, such as the Mining Rehabilitation Fund. hedge fund Health Surveillance Fund, etc.

including keeping the original royalty at a low level The royalty collection is calculated based on the gold price. Gold prices are currently in an uptrend. As a result, the royalties that the state will receive will increase accordingly. It is said that Thailand’s gold ore royalty rates are among the highest in the world when compared to countries with mining industries.good

“Most of the royalty income will be allocated back to the local government agencies in the mining area. for further community development.”

At the same time, Akara has received a special license for the exploration of 44 gold ore plots in Chon Daen and Wang Pong districts. Phetchabun Province, which, according to the Minerals Act of 2017, is valid for not more than 5 years, which is a special license that 3/2563-46/2563 From 26 Oct. 2020-25 Oct. 2025

In addition, the concession certificate for gold and silver mining in the amount of 4 plots has been renewed, consisting of the concession certificate no. 25528/14714 in the area of ​​Tai Dong Subdistrict, Wang Pong District, Phetchabun Province, and the concession certificate no. 26910/15635, concession certificate no. 26911/15366. and the concession certificate no. 26912/15367 in the area of ​​Khao Chet Luk Subdistrict, Thap Khlo District, Phichit Province, for another 10 years from December 30, 2021 – December 29, 2031.

At the same time, the metallurgical work permit 1/2008 was renewed to assemble gold ores at Khao Chet Luk Subdistrict, Thap Khlo District, Phichit Province and at Tai Dong Subdistrict, Wang Pong District, Phetchabun Province. Another 5 years from 19 Jan. 2022-18 Jan. 2027 in which the renewal of the concession certificate and the metallurgical work permit Agra Company must also establish a buffer zone that has a distance from the community as required by law.

As a result of the parallel negotiations in the dispute resolution committee between the Kingdom of Thailand and Kingsgate, Agra is confident that the Agra gold mine, which has been closed for more than 5 years, will have a chance. come back open Currently, it is in the process of factory maintenance. and machinery including the restructuring of the internal organization has been completed So that there will be about 1,000 employees at all levels, who are 99% Thai and will focus on recruiting employees around the community to work.

The most interesting thing was in the meeting. Cabinet on August 2, Mr. Suriya Juangroongruangkit Minister of Industry clarified the issue that the opposition had debated on all Akara gold mines and led Mr. Nirand Yingmahisaranon Director-General of the Department of Primary Industries and Mines (PCD) gave information to the Cabinet that Before the closure of the mine, Agra Company will export to Hong Kong for smelting. To enter the production process and separate ores to get 99.9% of the company’s gold before sending it back to Thailand and exporting gold to other countries, but from now on it cannot do so. and stipulates that it must be used by Thai companies only as operators which Agra is pleased ready to help push Thailand It is a country that produces complete gold. It will be able to reduce gold imports, resulting in less deficit in Thailand.

However, previously there has been criticism that the Agra Company exported to the production process and separated in foreign countries, there is nothing wrong with it or not In this regard, Agra explains that the company sent to operate in Hong Kong. It is because Thai companies that do most of the smelting business when it goes into the production and separation process. will get gold that is only pure 96.5%, but the company wants purity at 99.9%

But when the government by the PORN has a policy to push Thailand to produce a full range of So we contacted various smelting companies in Thailand and finally got a company that would continue to produce the 99.9% pure gold we wanted. is PRECIOUS METAL REFINING COMPANY LIMITED : PMR, which Akara and PMR will jointly launch their work at the Bangkok Gems & Jewelr Fair on September 7-11, 2022 in I M-Pak Muang Thong Thani

“When we get the gold and silver powder to dry before entering the furnace, It will be a Dore ingot with 10% gold and 90% silver. We will take the Dore ingots and send them to Heraeus Company in Hong Kong who will process and separate them to get 99.9% pure gold. Then we will sell the gold. And pure money to banks, but after this we don’t send it to Hong Kong, we will send it to PMR who does all the work.”

The Kingsgate Minerals figure for May indicated that there were reserves under the current concession area. Divided into 1.3 million ounces of gold and 12.2 million ounces of silver, all of which is sent to PMR as a silver and gold extractor. It is divided into 100,000 ounces of gold per year and 1,000,000 ounces of silver per year. The current gold price as of July 2022 is about 1,740 US dollars per ounce.

“The mineral reserves at Kingsgate Indicates that there is a valuable gold ore. Total value of 81,432,000,000 baht while silver has a total value of 10,736,000,000 With the combination of gold and silver, the total value 92,168,000,000 baht.”

Therefore, the Agra gold mine Received a special license renewal and renewal of concession certificates and received a renewal of the metallurgy license under the new Minerals Act This will allow the company to operate a gold mining business, which has a huge value according to the number that King’s Gate Company estimates to more than 90 billion baht awaits. As for the Thai government, it can frame the Agra Company. Come join the development of the area, community under responsibility for the impacts arising from gold mining in every aspect and most importantly, the government policy to achieve the goal is to make Thailand a fully integrated gold production base.

As a result, the Ministry of Industry and Agra Company There is confidence that the conflicts will be resolved without the need for international arbitration to arbitrate by the end of this year. But both sides must bring the results of the negotiations to the arbitrator only and the people in the mining area are ready to work in the Agra gold mine!

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