Dr Chanthone Sitthixay (right) and Mr Chanthalet Vorabouth shake hands during the agreement signing ceremony.

PTL Holding, LMDSE sign joint development agreement to advance gold industry in Laos

The Lao Mining Development State Enterprise (LMDSE) and the PTL Holding Company Limited will jointly carry out research and development of potential gold resources and other related minerals in Laos.
An official ceremony for the signing of the Joint Development Agreement (JDA) was held in Vientiane on May 9, marking a landmark step towards bolstering the development of the Lao mineral sector.

Dr Chanthone Sitthixay.

Mr Chanthalet Vorabouth.

The event was presided over by the Minister of Energy and Mines, Mr Phosay Sayasone.
The agreement was signed by Dr Chanthone Sitthixay on behalf of the PTL Holding Company Limited, and Mr Chanthalet Vorabouth on behalf of the Lao Mining Development State Enterprise (LMDSE). The event was attended by high-level officials, dignitaries, and representatives of both the public and private sectors.

Dr Chanthone Sitthixay (seated second from right), Mr Chanthalet Vorabouth (second from left), Mr Thongphath Inthavong (right), and Mr Bounpheng Sawai prepare to sign the partnership agreement.

The goals of the partnership include promoting cooperation in research and surveys, and in selecting prospective areas for mineral exploration and investment.
The long-term vision encompasses exploration, mining, processing and establishment of a comprehensive ecosystem that will significantly upgrade the Lao gold industry and align with national socio-economic development goals.
Speaking at the event, the Chairman and Founder of PTL Holding Company Limited, Dr Chanthone Sitthixay, described the agreement as a strategic milestone in public-private collaboration.

Leaders of PTL Holding Co Ltd and the Lao Mining Development State Enterprise pose for a group photo after signing the agreement.

“This cooperation signifies a crucial step forward in elevating the Lao mineral industry, particularly gold, towards comprehensive production. Our focus is on effective management and processing to transform mineral resources into high-value products and financial assets for the nation,” he said.
He highlighted the establishment of a state-of-the-art gold refinery in Laos, boasting an annual production capacity of 150 tonnes and the capability to refine gold to 99.99 percent purity in accordance with the standards of the London Bullion Market Association (LBMA).
This development is seen as a foundational element in creating a national gold reserve with standards that are financially accepted by the international financial markets and institutions in order to strengthen the economic stability and sustainable development of the country.
The Director of the Lao Mining Development State Enterprise (LMDSE), Mr Chanthalet Vorabouth, noted that while the agreement marks a significant achievement, it is only the beginning.
“The success of this joint venture requires extensive survey work, identification of raw material sources, and market development. Continued support from the government and relevant departments will be essential,” he said.
Mr Chanthalet reaffirmed the state enterprise’s commitment to diligently fulfilling its responsibilities under the agreement, ensuring alignment with national policies and socio-economic plans.
The collaboration is expected to produce a full gold industry value chain in Laos — from mining to refining — and boost the economy, enhance monetary liquidity, and reinforce the Lao Kip’s stability.
It will also pave the way for greater access to international financial markets and serve as a strategic asset for national development.
This initiative is seen as a pioneering move to position Laos as a significant player in the global gold industry, contributing to economic growth, sustainability and national resilience.

By Advertorial Desk
 (Latest Update May 13, 2025)