Govt warns against sharing false news on Thailand losing gold mine case

By THE NATION

 

 

The Digital Economy and Society Ministry has warned people not to believe or share news and internet posts that the government has lost its legal case against Kingsgate Consolidated and must pay a compensation of Bt70 billion.

 

Australian firm Kingsgate Consolidated Limited sued the Thai government for compensation over the controversial closure of a gold mine in Phichit province operated by Kingsgate’s subsidiary Akara Resources in early 2017.

 

“The ministry’s Anti-Fake News Centre contacted the Government Public Relations Department to verify this information and was told it was wrong,” the ministry said. “The latest arbitration hearing of this case took place in Singapore in February this year, while the deadline for submission of additional documents to the arbitration committee was set in July, which means the committee has not given its verdict yet.

 

“The committee also has not revealed when the final verdict will be given, therefore the news that the government has lost and must pay Bt70 billion compensation is not true,” it added.

 

For further information, contact the Government Public Relation Department at 02-618-2323 or visit: www.prd.go.th

 

 

Source: https://www.nationthailand.com/news/30392937

 

-- © Copyright The Nation Thailand 2020-08-14

 

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We shall see what "spin" they put on it when the outcome is completed....

The people at 'Hopewell' will be following this closely  . . . .  ????

17 minutes ago, webfact said:

The Digital Economy and Society Ministry has warned people not to believe or share news and internet posts that the government has lost its legal case

more pathetic lying so as not to lose face

Declare it "fake news"!

 

Sure beats all the hassle of appealing to a higher court!

Government warns against sharing fake news said a fake government ???? 

The share price has popped a bit in the last couple weeks. But the market cap is 23x less than the reported arb award. I think that's a pretty good reason to think there will be no award anywheres near that amount. 

When is the verdict due?

"legal case", "sued"

Not really appropriate terms as no court is involved.

The mining operation was done through a free trade agreement that denies both parties legal recourse through their respective nation's courts. 

The dispute between Kingsgate and the Thai government under the FTA is filed with and settled through mandatory arbitration through a tribunal (3-person) arbitration committee. Any appeal to its ruling can only be made to the tribunal. 

Odds are that Kingsgate will receive substantial compensation due to an illegal shutdown by the then Prayut junta government. 

4 hours ago, pegman said:

The share price has popped a bit in the last couple weeks. But the market cap is 23x less than the reported arb award. I think that's a pretty good reason to think there will be no award anywheres near that amount. 

It depends on the projected income loss from the closing of the mine.

I am sure it’s not that high, but there are many factors to consider in the total cost.

They did get insurance money already.

The only false news here is whatever the government's lies are that they force down their own peoples throats! 

5 hours ago, pegman said:

I think that's a pretty good reason to think there will be no award anywheres near that amount. 

 

The outside world by now know already how this government pays their debts, so the reward may be awarded, but everyone knows it will never materialize.

6 hours ago, herfiehandbag said:

Declare it "fake news"!

 

Sure beats all the hassle of appealing to a higher court!

Must have been a Fake Mine

So if it is "not true" that the government lost the legal case then the only possible outcome of the legal case is that they, the government won, right?

7 hours ago, webfact said:

the controversial closure of a gold mine in Phichit province

Why was it controversially closed - environmental pollution?? or possibly not meeting demands to "line pockets"??

It's funny, for an entity that is so intent on not losing face, they sure as heck don't posses a shred of shame