trending Market Intelligence /marketintelligence/en/news-insights/trending/9z2UMv15XKAZurxOsQ8SnQ2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Kingsgate: Chatree mine now debt free


Top electric vehicle markets dominate lithium-ion battery capacity growth


Message in a (Word)Cloud


Essential Metals & Mining Insights - January 2021

Industry Top Trends 2021: Metals and Mining

Kingsgate: Chatree mine now debt free

Kingsgate Consolidated Ltd. on Dec. 28 said its Chatree gold mine in Thailand is now debt free after it made a final US$6.3 million repayment against the Akara loan facility Dec. 23.

Following the repayment, the company's debt position has been reduced to A$5 million, which is set to be repaid in January 2017, compared to a debt position of A$72 million at the end of September.

The Chatree mine will be under care and maintenance from January 1, 2017, in accordance with the Thai government's decision to shutter the mine.

Kingsgate Chairman Ross Smyth-Kirk said the company will seek compensation from the government over its decision to shut the mine, but Thai Prime Minister Prayut Chan-o-cha urged the company not to sue the government, noting that the ordered closure is just a suspension.

The company also said it completed the sale of its remaining 15% stake in the Bowdens silver-lead-zinc property in central New South Wales to Silver Mines Ltd. after receiving the final A$4.1 million payment from Silver Mines.