Metal Tiger pleased with Thai regulatory progress

Natural resources investor Metal Tiger announced on Friday that, on 22 November, the Thai Minister for Industry appointed the final six Mineral Committee members.

The AIM-traded firm said the Mineral Committee, under the newly implemented Minerals Act, was charged with advising the Minister of Industry on bidding procedures and the issuance of ministerial regulations and notifications, and the approval of special prospecting licenses and mining leases and their renewals and transfers.

It also said the committee was responsible for advising on the revocation of mining lease conditions for properties in certain mining categories, the resolution of complaints, and providing assessments of the impact on health and the environment.

The board said the mining lease and exploration licence permitting process in Thailand was suspended in August last year, when the Minerals Act 1967 was officially replaced by the new act, pending completion of the 20-year minerals management strategy and the five-year minerals management master plan.

Those were ratified by the Thai Cabinet in July.

Metal Tiger’s board said it viewed the finalisation of the Mineral Committee as the remaining major legislative hurdle to the resumption of the permitting process in Thailand.

As a result, the board said the formal process of progressing Kemco and Boh Yai’s mining licence applications and Metal Tiger Exploration’s special prospecting licence applications in Thailand could resume.

“The 20-year mineral management strategy and the first five-year mineral management master plan had been under consideration by the Government of Thailand for over a year,” said Metal Tiger chief executive Michael McNeilly.

“The appointment of the final six Mineral Committee members represents a major milestone and the removal of a major hurdle that has kept Metal Tiger’s mining projects in Thailand from progressing.

“We now look forward to restoring the application process for our Thai assets.”