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Friday, 7th October 2005 (4754 views)

An ore bar produced at Thailand's first modern goldmine, Chatree, was the subject of a recent ceremony.

According to The Nation, the Australian ambassador held the ore bar, containing three kilograms of pure gold, which was mined by Australian company Akara Mining.

It is due to be flown to a foreign refinery where it will be made into gold bullion with an estimated value of US$50,000.

Akara Mining, a subsidiary of the Australian company Kingsgate Consolidated, started operations on its Chatree gold mine in 2001.

The mine is situated 280 kilometres north of Bangkok in the provinces of Phicit and Phetchabun and has an estimated gold resource base of 1.5 million ounces.

Akara is currently awaiting permission to expand its Thai mining operation as it is only operating two of the nine pit mines.

 

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