Managing Director of Phu Bia Mining (left), Mr David Reid, accepts the award from Minister Mr Malaythong Kommasith.

Phu Bia Mining honoured with LNCCI Business Leader Award 2024

Phu Bia Mining (PBM) has been awarded the prestigious Lao National Chamber of Commerce and Industry (LNCCI) Business Leader Award 2024, acknowledging the company’s outstanding contribution to Laos’ economic development and strong commitment to sustainable practices.
The award reflects the dedication and performance of PBM’s workforce and recognises the company’s enduring partnership with the people and government of Laos. As PanAust’s flagship investment in Laos, the company has been operating world-class mines in the country for more than 20 years.
Managing Director of Phu Bia Mining, David Reid, accepted the award from Minister of Commerce and Industry, Malaythong Kommasith, at the ceremony and shared the proud moment.
“We are deeply honoured by this recognition from the LNCCI. It highlights not only our long-standing contribution to the national economy but also our unwavering focus on responsible and sustainable development.”
To date, PanAust and PBM have invested more than US$1.1 billion capital in the country. Over the next two years, the company plans to invest a further US$102 million in new projects, with a view to further expanding its operations and delivering long-term value to Laos.
PBM employs more than 3,500 people, 93 percent of whom are Lao nationals, as well as more than 1,000 contractor personnel. The company’s contribution to national development extends beyond mining, with more than US$1.18 billion for direct benefits to the government of Laos and a further US$3.5 billion generated in indirect economic benefits through its network of local suppliers, contractors, community development funds, public road maintenance and other benefits.
Last month, PBM was recognised, for the fifth consecutive year, as the best taxpayer in Laos. Over the past 15 years, the company’s benefit-sharing with the government of Laos has exceeded 52.6 percent, surpassing the government’s requirement for a 50-50 profit split.
PBM remains committed to enhancing community development and environmental stewardship. This year, the company has nearly doubled its contribution to its Community Development Fund, now totalling US$750,000. These funds support vital infrastructure and social programmes in local communities.
The company continues to uphold the highest international standards of safety, environmental management and social responsibility. As a result, it is recognised as a benchmark for mining operations in Laos.
Mr Reid added, “This award is not only a validation of our past efforts but a strong motivator to continue our journey. We are determined to continue to significantly contribute to the national economy, and to further support the development of Laos’ mining sector through the use of innovative techniques and technology.”

By Advertorial Desk
(Latest Update November 20, 2025)