Kingsgate shuts down Chatree Gold Mine

Kingsgate Consolidated announced that it has ceased production at the Chatree Gold Mine, as instructed by the Thai Government.

Image credit: www.kingsgate.com.au

The move comes after the Sydney-based company was ordered by the Government to shut down operations due to “health and environmental” concerns.

Kingsgate said it has requested a meeting with the Prime Minister of Thailand to discuss the premature closure of the mine.

“The meeting proposed by the Deputy Prime Minister of Thailand did not proceed, and the Company has written to the Prime Minister seeing a meeting in early January,” the company told the ASX.

“Kingsgate continues to pursue remedies for the premature closure of the Chatree Gold Mine.”

In the meantime, Kingsgate’s Thai controlled subsidiary, Akara Resources, has proceeded with rehabilitation of the site.

Chatree has produced approximately 1.8 million ounces of gold since 2001, and in recent years has operated at a rate of approximately 125,000 to 135,000 ounces per annum.

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