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Monday, 4th April 2005 (3954 views)

The Australian Ambassador to Thailand has called for gold exploration license approval for the Thai Global Venture company to be sped up.<br/><br/>According to William Paterson, the company is looking for an exploration license for two provinces and the process is taking too long.<br/><br/>However, Thailand is still negotiating the agreement terms and wants to increase benefits involved, including technology transfer and scholarships for Thais to study precious metal mining in Australia.<br/><br/>The firm wants to explore for gold deposits at the Pichit province and three sites in the Phetchabun province.<br/><br/>Industry Minister, Wattana Muangsook, told TNA that Thai authorities are examining details of the applications and approval should be given within the month.<br/><br/>In addition, Thailand wants a larger fee than has so far been suggested.<br/><br/>Mr Muangsook was positive about the venture though, claiming it would be good for the area given current rising global gold prices.<br/><br/>Thailand mines about four to five tonnes of gold each year, but imports 140 tonnes of the precious metal annually.<img alt="track" src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=8191555"/>

 

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