Phu Bia Mining, Lao govt in landmark partnership agreement
 
Phu Bia Mining (PBM) and the Government of Laos have entered into another historic agreement as both parties signed the fourth amendment to the Mineral Exploration and Production Agreement on Friday April 12 at the Ministry of Planning and Investment.

PanAust and Phu Bia Mining officials attend a ceremony to renew a mining agreement, led by Dr Sithabandith Insisiengmay (third right) and Mr Thongphat Inthavong (second right).

The fourth amendment was signed by Deputy Minister of Planning and Investment Dr Sthabandith Insisiengmay and Deputy Minister of Energy and Mines Mr Thongphat Inthavong, representing the Government of Laos.
 They were joined by representatives of PBM including the Managing Director of PanAust, Daling Zheng; Chairman of Phu Bia Mining, Mr Chanpheng Bounnaphol; Managing Director of Phu Bia Mining, Mr Steve Gimpel; Senior Manager External Affairs, Manilath Arounlangsy; and Government Relations Manager, Vannaly Phounsavath.
Other senior government officials at the signing ceremony included those from the Ministry of Planning and Investment’s Department of Investment Promotion, and the Ministry of Energy and Mines’ Department of Mining Management and Department of Geology and Minerals.
Mr Daling Zheng, on behalf of Guangdong Rising Holding Group, thanked the Government of Laos for the long-term partnership.
Mr Zheng said “I stand here today filled with gratitude and honour as we mark the signing of the fourth amendment to the Mineral Exploration and Production Agreement. This momentous occasion signifies not only the culmination of dedicated efforts and negotiations but also marks a significant stage in the continuation of our partnership into the future.”
 “We have agreed to increase PBM’s contribution to the community development fund from US$300,000 to US$750,000 per year, which will deliver more socio-economic development priorities for Xaysomboun province. We have also agreed to increase land rental fees and expat salary tax, and agreements on new fuel and royalty rates, which will all provide more financial benefits to the central and provincial governments. PBM has also agreed to a substantial reduction of its MEPA Contract Area as part of the agreement,” he added.
Mr Chanpheng Bounnaphol added “I would like to give special thanks and appreciation to the Ministry of Planning and Investment and the Ministry of Energy and Mines for their enduring support.”
“We passed multiple rounds of negotiation together bringing excellent outcomes in this fourth amendment. The fourth amendment will not replace our commitment in the original MEPA signed in 1994 and all other subsequent amendments; rather, it will enhance our partnership and continue to deliver long-term benefits for the country and the people of Laos,” he said.

By Advertorial Desk
 (Latest Update April 24, 2024)