Thailand faces uphill fight over gold mine closure

[AGareth2]

13 hours ago, Eric Loh said:

 Maybe the next government can charge Prayut for malfeasance and seize his assets. Now that will be sweet karma. 

he is covered by his amnesty

[Airbagwill]

...but they still haven't addressed the pollution issues?

 

It looks like now, in parallel with the EEC, the junta are prepared to run roughshod over any complaints by the locals.

[Eric Loh]

16 minutes ago, AGareth2 said:

he is covered by his amnesty

A tongue in cheek stab at how the he gets away with all the mismanagement and costs to the country. Could be more than the rice scheme and he gets a free pass. Travesty and blatant irony. 

[MadMuhammad]

1 hour ago, baboon said:

Just as an aside, what is it with these 'investors' netting their 'capital gains' and other such fancy euphemisms for 'took a punt and got lucky'? You never hear 'I invested $100 at the blackjack table and accrued a capital gain of...' Isn't it just another form of gambling when all is said and done?

Gambling sure. But it’s a repeatable educated gamble, not just pure chance and luck. 

I wouldn’t ‘invest’ a half million dollars or more on a blackjack table but with education, solid advice and long term data I have no problem investing that and more into shares.

Would you gamble every cent you have and are ever going to have on something that is left to chance? No, neither would I. I took a ‘punt’ on property as  well. Dead certain win? Of course not. But I did my due dilligence, built in the right area and now I’ve seen an explosion in capital growth. 

 

If if you don’t understand the market or don’t have the cojones to invest that’s fine, it’s your money.

I don’t understand BitCoin myself and I most definitely don’t have the balls to go deep, but people are making massive gains on the market every hour. Good for them and all the best. 

Edited November 5, 2017 by MadMuhammad

[robertson468]

I just have to wonder, is this a case of a Foreign Company being stopped from doing business so that the value of the business falls substantially and are then bought out by a Thai owned Company who continue a lucrative business?  The mantra in Thailand is not what you know, but who you know!

[Media1]

On 11/4/2017 at 10:56 AM, the guest said:

FTA agreement between Australia and Thailand doesn't mean diddly squat!

Prices for Australian products in Thailand are extremely high, as they are still highly taxed by Thai customs and excise.

 

Loss of face is a big thing in Thailand, so I can't see this case going any further, and besides, this country is controlled by a Junta who has little patience for foreigners.

 

 

You talk to much bullshit..Your obviously not well versed in internatiinal law. NO one's listening to you.

[Media1]

16 minutes ago, robertson468 said:

I just have to wonder, is this a case of a Foreign Company being stopped from doing business so that the value of the business falls substantially and are then bought out by a Thai owned Company who continue a lucrative business?  The mantra in Thailand is not what you know, but who you know!

It's like this. They didn't have the know how. Australia is the leading mining hub. The studied the process. They stole the whole operation with some bullshit story.

There country is a sewer garbage everywhere. The oceans poisoned. There simply common pirate's. This has been global news. The JUNTA is not intelligent and have destroyed international business.  No one's doing business here now. 

Good Luck with dirty China.

[Media1]

On 11/4/2017 at 8:06 AM, Cadbury said:

It would certainly be a turn up for the books if the PM's precious Article 44 failed him. I can imagine much stamping of feet and chewing on the pillow at night. But one thing can be certain....it will be someone else's fault; not his.

The Thai government can now be seen for what it is. A one man government with a self created authority (Article 44) to do anything he pleases while giving himself immunity from the consequences of whatever he does. 

How long can it last?

He won't stop he has nothing else. He thinks his done good. Oh my God. Thainess

[champers]

My guess is that this will go to the wire, but will be ultimately settled before the independant tribunal starts. The PM has probably used Section 44 on the basis of advice received from those supposedly expert enough to give it. They can look forward to taking a long walk down a short plank; figuratively speaking.

If, unlikely as it appears, Thailand did get a tribunal ruling in their favour, it would be a major disincentive for foreign companies considering investment in Thailand.

The Eastern Economic Corridor (EEC) project requires foreign funding and Japanese investors, who were recent guests of the Government, are looking for cast iron guarantees that their money won't be subjected to any jiggerypokery by a Government beholden to the military.

Section 44 should not be used against legitimate and bona fide foreign entities; using it against her own people is quite bad enough.

Edited November 5, 2017 by champers

[zyphodb]

3 hours ago, Airbagwill said:

...but they still haven't addressed the pollution issues?

 

It looks like now, in parallel with the EEC, the junta are prepared to run roughshod over any complaints by the locals.

 

Do you honestly think that this Junta and their controllers care what happens to " a bunch of Isaan peasants"???

[Basil B]

4 hours ago, Airbagwill said:

...but they still haven't addressed the pollution issues?

 

It looks like now, in parallel with the EEC, the junta are prepared to run roughshod over any complaints by the locals.

Do not understand your post, was not closing the mine done to address the pollution issue???

[lapamita]

21 hours ago, eliotness said:

There is a simple solution for Thailand - inist that all non Thai companies operating in Thailand are certified to the ISO standards for Environmental Management and Corporate Social Respnsiility for their operations in Thailand. That should reduce the locals complaints and exclude rogue operators.

Akara  mines  

have cerification ISO

 

they win over 20 prices awards, as

1. enviromentel friendly

2.best foeign employer

 

and and and

 

Their if not any Proof of Polution( not by the companys orderd by the goverment localy 5 campoanys, and  even 2 foreign companys hired could not prove anything)

 

This was/is the modernst mine in SEA , a pilot projekt, with very high cost or production,due to enviromental standards

 

( i would belive if thais take over ..the cost of production would fall dramaticly)

[Media1]

3 hours ago, zyphodb said:

 

Do you honestly think that this Junta and their controllers care what happens to " a bunch of Isaan peasants"???

No

[Chris Lawrence]

Didn't this start back in 2014? The local headmen wanted more cash? Or a General intervened? 

 

Any way they are saying the mine is contaminating the place. But I have not read an Thai report to confirm this. 

 

The Chatree Gold Mine (CGM) is situated approximately 280 kilometres north of Bangkok and is the first commercial gold mine in modern times in Thailand. The mine is operated by Akara Resources Public Company Limited which is a wholly owned subsidiary of Kingsgate Consolidated Limited. The majority of the workforce is drawn from the local area, with some technical people relocating from Bangkok. The mine is serviced by bitumen road and is connected to mains power. The mine site occupies an area of 13,762 hectares.

 

CGM is a conventional open-pit mining and Carbon-in-Leach (CIL) gold processing operation, mining and processing approximately 6.2 million tonnes (t) per annum (tpa) of ore. The processing plant consists of a parallel circuit of a single stage crusher followed by a two stage grinding circuit, the leaching circuit and the AARL spilt elution circuits which the gold and silver are extracted from the carbon. Gold is also recovered by gravity using a centrifugal concentrator followed by an intensive leach reactor. 

Prior to discharge to the Tailings Storage Facility (TSF) the tailings slurry is treated in cyanide reduction tanks to produce a discharge which is less than 20 ppm total cyanide. The TSF incorporates a compacted clay lining as per international standards, central decant, under-drainage and seepage collection which returns recycle water to the process plant.

 

Now the mine is up and running there would be little outlay by the Thai's to go into full production. This is what this story is about.

 

[candide]

On 04/11/2017 at 4:22 AM, lapamita said:

a "suspect" takeover offer, at a draction of value of KGC  , was made in July, from a company called Pacific Northern Guld petroleum" , an unknown mini offshore company with thaisharedholders, they mentioned in the staement" we have the abaility and the realtions  to the  goverment ,and could popen mine "within 3 month" of we could take over more than 51% of the company.

This is worth noticing!

[Srikcir]

23 minutes ago, candide said:

This is worth noticing!

Takeover company was Singapore-based Northern Gulf Petroleum International.

http://www.miningweekly.com/article/kingsgate-snubs-opportunistic-takeover-2016-10-17

Northern Gulf Petroleum International's Director is Thai tycoon Chatchai Yenbamroong:

“If our bid is successful, we will launch a campaign to correct and improve the public perception of Kingsgate, its Thai subsidiary and the Chatree Gold Mine, which is accused, in my view falsely, to be the cause of contamination of underground water in nearby communities.”

https://thewest.com.au/business/finance/thai-tycoon-launches-bid-for-kingsgate-ng-ya-118478

Chatchai sees the mine issue as one of public relations and not one of pollution. Seems somehow he believes that by merely shifting ownership from foreign to Thai that the mine license will remain intact. How would that possibly be?

Edited November 5, 2017 by Srikcir
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[JAG]

10 hours ago, AGareth2 said:

he is covered by his amnesty

Only if whatever government follows the junta honours the amnesty!

 

If the next administration comes to power, shall we say, without the blessing of the junta, then they may very well disregard the amnesty.

 

Mind you, if that happens I suspect the leading figures in the junta will be long gone...

[JAG]

12 minutes ago, Srikcir said:

Takeover company was Singapore-based Northern Gulf Petroleum International.

http://www.miningweekly.com/article/kingsgate-snubs-opportunistic-takeover-2016-10-17

Northern Gulf Petroleum International's Director is Thai tycoon Chatchai Yenbamroong:

“If our bid is successful, we will launch a campaign to correct and improve the public perception of Kingsgate, its Thai subsidiary and the Chatree Gold Mine, which is accused, in my view falsely, to be the cause of contamination of underground water in nearby communities.”

https://thewest.com.au/business/finance/thai-tycoon-launches-bid-for-kingsgate-ng-ya-118478

Chatchai sees the mine issue as one of public relations and not one of pollution. Seems somehow he believes that by merely shifting ownership from foreign to Thai that the mine license will remain intact. How would that possibly be?

Friends in high places...

 

Perhaps that was the plan all along.

 

No, it cannot be, after all, that would be corrupt....

[Cadbury]

5 hours ago, Basil B said:

Do not understand your post, was not closing the mine done to address the pollution issue???

There was no pollution issue! That was a beat up by some scam artist lawyers in cahoots with a few villagers who couldn't manage to get a job at the mine but wanted a million plus baht hand-out anyway. The minister denied Kingsgate committed any pollution offences. The lawyers and the cheapskate villagers got nothing.

 

Edited November 5, 2017 by Cadbury

[Cadbury]

1 hour ago, JAG said:

Friends in high places...

 

Perhaps that was the plan all along.

 

No, it cannot be, after all, that would be corrupt....

It comes as no surprise there was a shadowy tycoon in the background waiting for PM Prayut to pull the pin on Kingsgate using his Article 44 so allowing said shadowy tycoon to pick up a very productive mine on the cheap. On the cheap that is after "expenses" and "commissions" had ben paid.

[Basil B]

Kingsgate should think themselves lucky...

 

"316 Mining" in Fairplay, Colorado, USA, have the locals shooting at them.

 

Quote

Tension between the “Gold Rush” miners and some residents reached its peak on May 18th. Aaron Borth, 35, was arrested after “Gold Rush” crew members reported he fired four gunshots in their direction, according to Park County court documents obtained by 9NEWS.

http://www.9news.com/news/local/tension-high-in-fairplay-over-mine-operations/449084495

 

 

 

[Dave67]

P Man should stand trial for incompetence and negligence just like his predecessor