Mr Tao Wu (left) meets with Mr Phoykham Houngbounnhuang at the Xaysomboun provincial administration office.

Phu Bia Mining pays US$5.5m dividend to govt

Phu Bia Mining (PBM), a leading mining company in Laos, in August paid a US$5.5 million dividend to the Lao government.
This is the second dividend payment following the company’s first US$7.5 million dividend payment in May.
Since 2012, when PBM entered into a shareholder agreement with the Lao government, the company has paid a total of US$97.5 million in dividend payments to the Lao government.
Since operations began 15 years ago, Phu Bia Mining has made cumulative payments exceeding US$1 billion to the government of Laos, marking a substantial impact on the nation’s economic development.
This dividend represents the latest annual contribution to the Lao government, which holds a 10 percent ownership stake in the company.
To date, PBM’s accumulative payments to the Lao government include US$313.3 million in corporate income taxes, US$485.2 million in royalties, US$36 million in road tax, US$25.7 million in import service fees, US$18.7 million in social security for Lao employees, US$62.7 million in salary taxes, US$97.5 million in dividends, US$3 million in donations, US$0.8 million for student education and staff amenities plus concession fees.
PanAust Managing Director and Chief Executive Officer, Mr Daling Zheng, said PanAust Chairman and Deputy President of the Guangdong Rising Nonferrous Mining Group (GRNMG), Mr Tao Wu, pledged that the company would continue its commitment for continued business growth in Laos.
Mr Zheng said “Mr Wu met with His Excellency Phoykham Houngbounnhuang, Xaysomboun Provincial Governor, during his second visit to Laos. The meeting brought positive outcomes for both Phu Bia Mining and the Xaysomboun Provincial Government, emphasising the value of the strong relationship between China and Laos.”
“Mr Wu also reaffirms that our Phu Kham Copper-Gold and Ban Houayxai Gold-Silver Operations continue to explore multiple opportunities to develop new mines and advance current projects for copper and gold production in Xaysomboun province. These projects will enable more financial contributions to the provincial and national governments both now and in the future.”
Phu Bia Mining Chairman, Mr Chanpheng Bounnaphol, added “The 2024 August payment is part of Guangdong Rising Holdings Group, the Chinese-state-owned enterprise’s commitment to social and economic contributions for the government and people of Laos. The payment also highlights a significant milestone for regular dividend payments without interruption.”

By Advertorial Desk
 (Latest Update September 27, 2024)