20th Anniversary of SEPON MINE Marked

10/12/2023 14:27
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ຂປລ (KPL) Lane Xang Minerals Limited (LXML) celebrated the 20th anniversary of the successful operations of Sepon Mine in Vientiane on December 8, 2023. The event was attended by Prime Minister Sonexay Siphandone, Mr. Wang Jianhua, Chairman of Chifeng Gold, the parent company in China, LXML President, Mr. Gao Bo, senior government officials, key shareholders and partners.

Prime Minister Sonexay Siphandone (Center) cuts a cake to mark  20th Anniversary of SEPON MINE in Vientiane on December 8, 2023

(KPL) Lane Xang Minerals Limited (LXML) celebrated the 20th anniversary of the successful operations of Sepon Mine in Vientiane on December 8, 2023.

The event was attended by Prime Minister Sonexay Siphandone, Mr. Wang Jianhua, Chairman of Chifeng Gold, the parent company in China, LXML President, Mr. Gao Bo, senior government officials, key shareholders and partners.

 “Moving forward, Chifeng LXML aims to meet the One Belt and Road initiatives, as well as the bilateral needs of Lao PDR and China, and the people of both countries. The Sepon Project continues to bring benefits to the local host communities, investors, contractors, employees, and stakeholders in Laos. The company is committed to sustainable growth in Laos to pave the way for another two decades of prosperity at Sepon,” said Mr. Wang Jianhua, Chairman of Chifeng Gold, the parent company in China.

Mr. Wang Jianhua, Chairman of Chifeng Gold, the parent company in China

"As we celebrate this milestone for Sepon Mine, we also remain committed to best practices and the best Corporate Social Responsibility. It is important to reflect on the journey that has brought us here today. LXML has faced many challenges, but through our determination and commitment, we have been able to deliver business excellence and overcome all adversity," he added.

LXML President, Mr. Gao Bo, outlined the significant achievements of Sepon Mine in bringing foreign currency into Laos and improving the livelihoods of local people through LXML's Corporate Community Development Programs in Vilabouly District. He emphasized that LXML consistently prioritizes the development of Lao employees by providing a safe working environment, access to quality healthcare, and training to ensure the success of Sepon operations.

In his remarks, Mr. Gao Bo expressed strong appreciation for the support received from the Central Government, Provincial and District Authorities, local host communities, company employees, contractors, and stakeholders. LXML will continue to operate Sepon Mine for the socio-economic development of the Lao PDR, contributing through royalty, profit tax, dividend, concession land rental fees, community development funds, funds for assisting disadvantaged families, personal income tax, and community support for employees. LXML will also prioritize advanced mining techniques, rehabilitation, and internationally standardized environmental protection.

Over the past 20 years, Lane Xang Minerals Limited has become a symbol of excellence in mining and growth in Laos, maintaining a Grade A+ rating. The Sepon Project has made significant efforts to promote sustainable development and environmental stewardship in the mining industry. These efforts include implementing stringent environmental rehabilitation and monitoring programs, as well as developing a sustainable mine closure plan. As a result, the Sepon Mine project has become the largest and longest-lasting copper and gold producer in Laos.

LXML has invested over US$55 million in infrastructure improvements, including approximately US$34 million to build the national electricity grid from Thakhek-Mahaxay through to Sepon Mine to purchase power from Electricite du Laos. LXML has also extended community development initiatives to rural and remote areas and invested approximately US$56 million in UXO clearance.

LXML is a registered mining company in Laos, with 90% of the ownership held by Chifeng Jilong Gold Mining Co., Ltd (Chifeng) and 10% owned by the Lao Government. LXML works collaboratively with several ministries of Lao PDR. It is a public-private partnership that symbolizes how governments and private companies can work together for the common good.

Furthermore, the Lane Xang Minerals Limited Project is a shining example of responsible mining and development in Southeast Asia. LXML’s environmental standards are recognized as an example of excellence in Laos. To date, LXML has invested US$20 million in environmental management, rehabilitation, and monitoring activities. LXML was among the first companies in Lao PDR and Southeast Asia to achieve ISO 14001 accreditation for environmental management systems.

LXML's commitment to excellence has earned it an A+ rating credential from the Lao government for a decade, and the company has received numerous awards acknowledging its contributions to economic and social development in Laos. These include the First Runner-Upof theASEAN Mineral Award 2023 in Mineral Processing, while the other 2023 Lao Business Leader Award was received for recognition as a leading company in compliance with international social and environmental standards.The company has also received the 2021 Business Leader Award for COVID-19 prevention in Laos, the 2020 ASEAN Business Award for Combating COVID-19, the ASEAN Minerals Awards in 2017 and 2019, the 2016 ASEAN Award for Mining Excellence, as well as the ASEAN Award for Corporate Social Responsibility Development.

Since operations commenced in 2003, Sepon Mine has produced over 1.5 million ounces of gold and 1.1 million tons of copper, generating direct revenue of over US$1.7 billionin taxes, royalties, and dividends for the Lao PDR. The mine has also provided significant indirect benefits through employment, training, community development, and payments to local business partners and suppliers. Sepon's community development programs have delivered over US$20 million benefitting more than 40,000 people in Vilabouly District, while local business groups have received US$50 million in community income.

KPL

ຂ່າວອື່ນໆ

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