LXML pays govt more than 79b kip in mining royalties 

Caption: Director General of the State Assets Management Department, Ministry of Finance, Mr Phouthasin Heungthavong, (right), receives the royalty payment for the first quarter of 2022 for copper and gold production from the Managing Director of Lane Xang Minerals Limited, Mr Saman Aneka.
Lane Xang Minerals Limited (LXML) has paid more than 79 billion kip (US$5.8 million) in royalties for the first quarter of 2022 copper and gold production at its Sepon mine to the Lao government in Vientiane.
The payment was received by the Director General of the State Assets Management Department, Ministry of Finance, Mr Phouthasin Heungthavong, and handed over by the Managing Director of Lane Xang Minerals Limited, Mr Saman Aneka.
“LXML is proud to be a major financial partner in development in Laos through the payment of royalties, profit tax, dividends, income and other taxes,” Mr Aneka said. “We would like to express sincere thanks to the Lao government for its support to the continuing success of the Sepon project.”
Last month, LXML opened the first modern underground mining operation in Laos. Underground mining is more economical for deeper ore deposits, with less environmental and social impact relative to open pit mining.  This new development will use modern equipment, and advanced mining techniques. Development will continue, with production expected in the second half of 2023.
In the first quarter of 2022, the Sepon mine produced 1,783 kilograms of gold and 2,426 tonnes of copper.
In 2021, LXML Sepon contributed US$40.84 million to the Lao government in direct revenue.
Since production began in 2003, LXML Sepon has contributed over US$1.6 billion in direct revenue to the Lao government, including over US$389 million in royalties, in addition to hundreds of millions of dollars in indirect benefits through employment, training, local business support, and community development.
After the handover, LXML representatives paid a courtesy call on the Minister of Finance, Mr Bounchom Oubonpaserth, to discuss the future of the Sepon project’s contributions and development.

By Times Reporters
 (Latest Update June 4, 2022)