Kingsgate, Thailand move to end long-running TAFTA arbitration
ASX-listed Kingsgate Consolidated has reached an agreement with the Thai government to terminate the long-running arbitration proceedings initiated under the Thailand–Australia Free Trade Agreement (TAFTA), paving the way for strengthened cooperation around the Chatree gold and silver mine.
The arbitration, launched in 2017 following the suspension of operations at Chatree, will be formally closed without an award being issued. The arbitration tribunal has acknowledged the parties’ mutual agreement and is expected to issue a termination order in due course.
Kingsgate described the outcome as an “amicable agreement” that reflects a refreshed relationship between the company and the Kingdom of Thailand. The company said the resolution is expected to support the continued operation of the Chatree mine and deliver benefits to local communities, Thai stakeholders and Kingsgate shareholders alike.
The board emphasised that the decision followed “careful consideration” and represents the most appropriate path to secure long-term value for all parties, including employees and contractors at Chatree.
Kingsgate CEO Jamie Gibson said the development marked “a historic moment” for the company’s investment in Thailand.
“I look forward to an era of renewed co-operation with the Thai government. I believe that the continuance of operations at the Chatree Mine will deliver significant benefits to Kingsgate and its shareholders as well as to the people of Thailand,” he said, adding that the agreement demonstrated that “Thailand is open for business”.
Chatree, located about 280 km north of Bangkok, is Thailand’s largest gold mine.
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