Phu Bia Mining hosts PanAust’s Board at its operations in Laos

Phu Bia Mining recently welcomed members of PanAust’s Board of Directors to Laos. PanAust is owned by Guangdong Rising H.K. (Holding) Limited which is a wholly owned subsidiary of Guangdong Rising Holding Group Co., Ltd. (GRHG)., a Chinese state-owned company. Phu Bia Mining, a Lao-registered company, is 90 percent owned by PanAust and 10 percent by the Government of Laos.

(from left) Mr Lei Feng, David Reid, Paul Arndt, Daniel Zheng, and (second right) Murray Phillips and Phu Bia Mining employees at the Phu Kham Copper-Gold Operation.

The delegation included Guangdong Rising H.K. (Holding) President, Mr Lei Feng; Vice President, Mr Zhibin Huang; and Non-Executive Director, Paul Arndt.
PanAust’s Managing Director and Chief Executive Officer, Daniel Zheng also accompanied the visitors to Phu Bia Mining’s flagship Phu Kham Copper-Gold Operation, where the delegation toured the mine operations, open pit, process plant and tailing storage facility (TSF).
Later, the delegation visited Phu Bia Mining’s Ban Houayxai Gold-Silver Operation, touring the Ban Houayxai Extension project and the process plant, TSF and mining operations.
Mr Daniel said the Company was pleased to welcome Mr Feng and Mr Huang for the first time to Laos and to its Phu Bia Mining Operations. Daniel stated the visit assisted the delegation to see first-hand and understand current activities at the operations and the life of mine extension opportunities that Phu Bia Mining is pursuing.
“Importantly, the delegation discussed the Company’s business strategies in Laos, focused on continuing to make strong financial returns to the Government of Laos and PanAust,” Mr Zheng said.
Phu Bia Mining Chairman, Mr Chanpheng Bounnaphol said the visit highlighted the Company’s commitment to continue its operations long term and supporting Laos’ long term socio-economic development.
“At Phu Bia Mining, our investment platform in Laos is strong. We have invested approximately US$1.57 billion through the capital costs of operating infrastructure and assets and mining development projects.
“We have contributed more than US$927 million to the Government of Laos’ annual revenue through royalties and taxes and provided direct employment for more than 3,000 Lao nationals.
“Since 2008, Phu Bia Mining has completed 420 small-scale community development projects with an investment of more than U$4.5 million. Those projects have improved health, education, agricultural capability, developed small businesses, financial literacy, and infrastructure for communities close to our mine sites in Xaysomboun province.
“With the future opportunities for the mining industry in Laos, PanAust’s Board members look forward to Phu Bia Mining’s long-term presence in Laos that will provide further social, economic and financial benefits for its people and Government,” Mr Bounnaphol said.

By Advertorial Desk
 (Latest Update September 5, 2022)