Metal Tiger (LON:MTR) today announced that on 31 July 2018, the Thai Cabinet approved the 20-year mineral management strategy (2017-2036) and the 5-year mineral management master plan for 2017-2021 meaning that both the strategy and the Master Plan are effective immediately. Mining lease application areas and special prospecting licence application areas under the KEMCO project as well as the Thai JV all fall into the MDA classification and the approval of the Master Plan therefore removes a significant legislative hurdle to the progression of Metal Tiger’s Thai project and enables the Thai JV to formally progress all licence applications. The strategy and Master Plan aims to integrate Thailand’s management of mineral resources while ensuring that the mining industry will be environmentally friendly, with an elevated focus on the quality of life of people affected by the mining industry. In the approved strategy, four points of emphasis have been included:
the classification of mineral zone;
the formulation of mineral policy;
the development of a regulatory mechanism; and
the promotion of general public participation.
The Master Plan classifies areas and/or specific minerals that should be restricted or conserved and designates mineral deposit areas (MDAs) where mining will be permissible. Designation of the MDAs is based on the criteria that a deposit must be rich in mineralisation with high economic value, and that there must be available technology for effective mining with suitable measures for protection from environmental impact and protection of public health. Under the first 5-year Master Plan, in order to allow continuity of the mining industry, areas covered by mining leases, registered mining lease renewal applications, registered mining lease applications, prospecting licences and areas designated for aggregate mining are all classified as MDAs.
Michael McNeilly, Chief Executive Officer of Metal Tiger plc commented: “The 20-year mineral management strategy and the first 5-year mineral management master plan has been under consideration by the Government of Thailand for over a year, and this represents a major milestone and the removal of a major hurdle that has kept Metal Tiger’s mining projects in Thailand from progressing. We are delighted that the Thai mining and exploration licence applications are now in a position to progress towards granting.”
