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Thailand-Kingsgate settlement: The real winners and losers in gold mine dispute

Thailand-Kingsgate settlement: The real winners and losers in gold mine dispute

17 Sept 09:47 Key points summarised by AI
  • Thailand and Australian mining firm Kingsgate (Akara Resources) resolved an 8-year dispute concerning the 2017 closure of the Chatree gold mine, which had led to a 30-billion-baht compensation claim.
  • The Thai government frames the settlement as a victory, preventing an international dispute and boosting investor confidence, with Akara resuming operations in 2023 after meeting environmental standards.
  • A local mining watchdog, however, asserts Kingsgate is the sole winner, arguing the settlement primarily absolved former PM Prayut of responsibility and that Thai citizens remain vulnerable to environmental and health risks.
  • The government granted Akara new permits and extended licenses, allowing the mine to resume operations and explore new areas, while Kingsgate highlights its significant financial contributions to the Thai state and local communities, emphasizing economic benefits and safety.
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