Thailand’s Chatree gold-mine battle is coming to an end – but who won?

[webfact]

 

By Thai PBS World’s General Desk

 

Judgement Day is nigh for Thailand as the Singapore-based arbitral tribunal prepares to issue its January 31 verdict on the government’s battle with an international mining company.

 

The stakes are high as Australia-based Kingsgate Consolidated Limited is demanding US$750million (about 25 billion baht) in compensation from the government, after its subsidiary Akara Resources’ Chatree gold mine was suspended by then-coup leader General Prayut Chan-o-cha. The government is also thought to have spent about 600 million baht on legal fees to fight the case.

 

However, recent developments indicate that out-of-court negotiations are progressing so well that Judgement Day could be just an insignificant ritual.

 

Full story: https://www.thaipbsworld.com/thailands-chatree-gold-mine-battle-is-coming-to-an-end-but-who-won/

 

-- © Copyright Thai PBS 2022-01-31

 

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[Dcheech]

Quote

In late 2016, General Prayut invoked his absolute power under Section 44 of the interim Constitution to issue an order suspending mining at Chatree from January 1, 2017. The order came in response to local opposition against operations at Thailand’s largest gold mine

Interesting how the powers that be of the thai media, Did not broadcast, blanked out,  protests made by locals, to reopen the mine. You never even knew they occurred. Unfortunately protests by locals undercut the official reason for closing and seizing the mine. That the government did this to protect locals, who were angered at mine pollution and environmental damage from the mine. Now as the final court decision nears and likely will fall against the Thai governments seizure of the mine. everything becomes sweetness and joy. 

 

Business in Thailand enter at your own risk.

[realfunster]

“Thailand’s Chatree gold-mine battle is coming to an end – but who won?”

 

Good question. Hmm, I wonder. 

 

From the linked article :

 

It should be noted that Kingsgate announced earlier this month that it “acknowledges the cooperation and goodwill shown by the Thai government”, after it received four mining leases for Chatree. Each of the leases runs for 10 years from December 31, 2021. Kingsgate has interpreted the issuance of the leases as a green light for resumption of operations at the gold mine.

 

Great use of taxpayers money on THB 600m on legal fees, could buy half a submarine with that.

[farmerjo]

https://goldprice.org/gold-price-charts/10-year-gold-price-history-in-us-dollars-per-ounce

[lapamita]

one of the biggest fraud stories of this governmentwould be a great crime thriller based on a real story.I've been following this story out of personal interest since the beginning.finally the boss gets a smack on the hatand hopefully the next government will lock him up like he did his predecessors. since he has done considerable damage to thailand.
the verdict should be clearly in favor of kingsgate or sub Akara

[Srikcir]

8 hours ago, Dcheech said:

Interesting how the powers that be of the thai media, Did not broadcast, blanked out,  protests made by locals, to reopen the mine. You never even knew they occurred. Unfortunately protests by locals undercut the official reason for closing and seizing the mine. That the government did this to protect locals, who were angered at mine pollution and environmental damage from the mine. Now as the final court decision nears and likely will fall against the Thai governments seizure of the mine. everything becomes sweetness and joy. 

 

Business in Thailand enter at your own risk.

While the article cites ongoing "out of court negotiations," no court is actually involved as per the FTA. Any final decision is made by the tribunal arbitration panel in accordance to ratification by Australia and Thailand governments. For the selection of 3 panel members, Australia and Thailand chose one member. The 3rd member is chosen by those 2 members.  

[Srikcir]

8 hours ago, realfunster said:

“Thailand’s Chatree gold-mine battle is coming to an end – but who won?”

 

Good question. Hmm, I wonder. 

 

From the linked article :

 

It should be noted that Kingsgate announced earlier this month that it “acknowledges the cooperation and goodwill shown by the Thai government”, after it received four mining leases for Chatree. Each of the leases runs for 10 years from December 31, 2021. Kingsgate has interpreted the issuance of the leases as a green light for resumption of operations at the gold mine.

 

Great use of taxpayers money on THB 600m on legal fees, could buy half a submarine with that.

Kingsgate Letter:

 

https://www.thaienquirer.com/36977/recapping-thailands-gold-mine-fight/

 

PM Prayut should be personally charged with the THB 600m when he acted unilaterally personally as NCPO Chief and not as an elected PM to shutdown the operations.

 

[Mr Meeseeks]

1 hour ago, Srikcir said:

Kingsgate Letter:

 

https://www.thaienquirer.com/36977/recapping-thailands-gold-mine-fight/

 

PM Prayut should be personally charged with the THB 600m when he acted unilaterally personally as NCPO Chief and not as an elected PM to shutdown the operations.

 

Correct. 

[jonclark]

Well I would hope the court recent rulings against members of the last elected government will set a precedent on how the courts deal with those in the current government who have wasted  taxpayers money with erroneous judgements and actions. 

 

Maybe certain current government members are thinking of heading to Dubai on a Macedonian passport. 

[candide]

17 hours ago, Dcheech said:

Interesting how the powers that be of the thai media, Did not broadcast, blanked out,  protests made by locals, to reopen the mine. You never even knew they occurred. Unfortunately protests by locals undercut the official reason for closing and seizing the mine. That the government did this to protect locals, who were angered at mine pollution and environmental damage from the mine. Now as the final court decision nears and likely will fall against the Thai governments seizure of the mine. everything becomes sweetness and joy. 

 

Business in Thailand enter at your own risk.

Right. This propaganda organ failed to mention that the real reason was to give some of their friends the opportunity to buy back the Australian company at a low price. And this plan failed miserably.

[JCauto]

On 1/31/2022 at 7:51 AM, Dcheech said:

Interesting how the powers that be of the thai media, Did not broadcast, blanked out,  protests made by locals, to reopen the mine. You never even knew they occurred. Unfortunately protests by locals undercut the official reason for closing and seizing the mine. That the government did this to protect locals, who were angered at mine pollution and environmental damage from the mine. Now as the final court decision nears and likely will fall against the Thai governments seizure of the mine. everything becomes sweetness and joy. 

 

Business in Thailand enter at your own risk.

Oh, so the original protests, the ones coming from the poisoned villagers, that was no biggie? And you don't think there's a chance big money interests were behind that "protest" to reopen the mine? Western companies who violate environmental and social safeguards deserve all the losses they've earned.

[Dcheech]

On 2/1/2022 at 9:12 AM, JCauto said:

Oh, so the original protests

What original protests? 

[JCauto]

1 hour ago, Dcheech said:

What original protests? 

https://www.abc.net.au/news/2016-04-28/chatree-mine-causes-protests-in-thailand-after-poisoning-claims/7364976

 

Do keep up...

[herfiehandbag]

So, anyone know what was the verdict?