Precious Metals Refiner appointed to process Chatree Gold and Silver
Kingsgate Consolidated Limited (ASX:KCN) (“Kingsgate or the Company”) is pleased to advise that Precious Metal Refining Company Limited, (“PMR” or “the refiner”) has been appointed to process the gold and silver ore produced at the Chatree Gold Mine (“Chatree”).
PMR’s state of the art refining facility is securely located in the Amata City Industrial Estate, Chonburi, about 40 minutes outside of Bangkok, with best in class environmental, health, and safety management.
PMR Gold and Silver Refineries are among the largest capacities in Thailand, and will easily be able to process the +100,000 ounces of gold and +1,000,000 million ounces of silver expected to be produced at Chatree on an annual basis once both processing plants are fully refurbished and restarted.
In addition, PMR is fully certified in ISO-9001, 14001, 45001 and is a member of the Responsible Jewellery Council and complies with its operating standards. PMR has the ability to process gold to a purity of 99.99%, and is among the first in Thailand to be in compliance with the strict laboratory standards being certified by the Gem and Jewellery Institute of Thailand. PMR is also an active member of the Thai Gem and Jewellery Traders Association, and the Gold Traders Association of Thailand.
The terms of the agreement are very competitive and give rise for Kingsgate to explore a range of “value adding” opportunities in the Thai domestic gold market.
Kingsgate’s Executive Chairman, Ross Smyth-Kirk, said “We are delighted to be partnering with a locally based state of the art refiner, which not only gives us a stronger local footprint and creates more jobs in Thailand, but gives us a real opportunity to create “Thai gold for the Thai people”.
Ross Smyth-Kirk OAM
Kingsgate Consolidated Limited