Padaeng gears up development of concessions in Laos and Myanmar targeted as new sources of raw materials
Concession in Laos will be a major development in the next few years
Preparing for the orderly closure of Mae Sod mine at the end of its life
Bangkok (27 April 2010) ? Padaeng Industry Plc (PDI), the sole producer of quality zinc in South East Asia, today reported the company is working on the development of its concessions in Laos and Myanmar as two new potential sources of raw materials. In the meantime, the company is preparing for the orderly closure of the Mae Sod mine which is due to reach the end of its period of commercial viability in 2016.
Mr. Andr? R. van der Heyden, Managing Director, Padaeng Industry Plc, said, ?The concession in Laos will be a major development for the company during the next few years. Already, the company has started exploration work in the northern part of Vientiane province. Results from the initial drilling suggested high potential of deposits of one million tonnes of zinc ore.?
He added that the company has acquired the operating rights on a mine located in Myanmar near Mae Sod district, and operations are expected to commence within this year.
With the closure of the Mae Sod mine, the company began initial rehabilitation of the land in 2003, including the plantation of more than 13 million shoots of Vetiver grass in areas where mining activities have ceased. This makes Mae Sod mine one of the largest growers of Vetiver grass in Thailand. Vetiver grass, which helps prevent soil erosion and enhances soil improvement for agricultural uses, is first used as a pilot plant to rehabilitate the eroded soil before growing perennial plants, thereby reviving the once-mined area.
In 2009, PDI registered a net consolidated profit of Bht 296 million, up from Bht 265 million during the same period of the previous year. Dividend payment per share is Bht 0.92 for the fiscal year between 1 January ? 31 December 2009.
Padaeng Industry Plc (PDI) was established on 10 April 1981 and has been listed on the Stock Exchange of Thailand (SET) since 21 July 1987. The company?s registered capital is Bht 2,260 million and has been fully paid-up. The company operates mining and smelting business to produce zinc metal and zinc alloys to serve both domestic and international customers.