Govt receives 2010 profit tax from Sepon mine
http://www.vientianetimes.org.la/FreeContent/free_Govt.htm

MMG LXML Sepon has made a 2010 profit tax payment of more than 738.7 billion kip (US$92 million) to the Lao government, according to a company press release.

The Finance Ministry's Tax Department Deputy Director General, Mr Lamngeun Tanlamany, received the payment from MMG LXML Sepon Director, Mr Saman Aneka, on March 29.

The Minmetals Group Lane Xang Minerals Ltd (MMG LXML) Sepon Operations' gold and copper mine is in Vilabouly district, Savannakhet province.

In addition to the profit tax payment, other sources of income for the government generated by MMG LXML Sepon in 2010 include royalties (from gold and copper sales) worth US$26.5 million, income tax payments of US$5 million and rental fees of US$45,000.

The total revenue paid to the government for 2010 was over 992.5 billion kip (US$123.6 million), the press release noted.

Additionally, the government received dividend payments for 2010 (from its 10 percent stake in the mine) totalling US$32.9 million.

Speaking at the handover ceremony, Mr Lamngeun praised MMG LXML Sepon as a good example for other companies, noting that it is the biggest single taxpayer in Laos.

The company delivered 2009 profit tax of more than 461.8 billion kip (US$57 million) to the Lao government, according to its website.

It also handed over a dividend payment of US$14.4 million to the Finance Ministry's State Enterprise Finance Management De-partment.

From 2003 (when the first Sepon gold was produced by the company) until the present, the mine has generated revenues for the government of more than 4.8 trillion kip (US$600 million), in the form of taxes and fees, the press release mentioned.

The government has been a shareholder in the project since June 30, 2007, when it exercised its option to acquire a 10 percent holding in LXML Sepon under the Minerals Exploration and Production Agreement.

The website mentioned that a contract between LXML and the government was made in 1993 when the two parties agreed to establish LXML Sepon to undertake mining exploration and project development.

Chinese Minmetals took over operation of most of the Australian company OZ Minerals' mines in June 2009.

The Sepon mine previously produced about 67,500 tonnes of copper per year, but expects about 83,000 tonnes to be produced this year.

The copper is exported mainly to Thailand and Vietnam and only a small quantity is supplied to two local companies.

The Sepon operation covers 1,250 square kilometres in Bualapha and Xaybuathong districts in Khammuan province and Vilabouly, Xepon and Atsaphone districts in Savannakhet. It is located about 40 km north of the town of Sepon in Savannakhet province.

Very nice.
:) ;)

Very nice indeed. Hmm maybe I should try go over there right now with my exploration geology background :).


llX wrote on 18^th Apr, 2011 at 3:33am:

Very nice. :) ;)

Maybe not a bad idea before the minerals, gold, copper run out.
;)



PEACE wrote on 18^th Apr, 2011 at 3:39am:

Very nice indeed. Hmm maybe I should try go over there right now with my exploration geology background :). llX wrote on 18th Apr, 2011 at 3:33am: Very nice. :) ;)

llX wrote on 18^th Apr, 2011 at 3:43am:

Maybe not a bad idea before the minerals, gold, copper run out. ;) PEACE wrote on 18th Apr, 2011 at 3:39am: Very nice indeed. Hmm maybe I should try go over there right now with my exploration geology background :). llX wrote on 18th Apr, 2011 at 3:33am: Very nice. :) ;)

Not likely to happen anytime soon. As long as Laos has mountains, there will be minerals locked up inside.

I didn't know that. Its good to hear because Laos is mostly mountain, and has many river for hydropower too.
:) 8-)


wrote on 18^th Apr, 2011 at 4:06am:

llX wrote on 18th Apr, 2011 at 3:43am: Maybe not a bad idea before the minerals, gold, copper run out. ;) PEACE wrote on 18th Apr, 2011 at 3:39am: Very nice indeed. Hmm maybe I should try go over there right now with my exploration geology background :). llX wrote on 18th Apr, 2011 at 3:33am: Very nice. :) ;) Not likely to happen anytime soon. As long as Laos has mountains, there will be minerals locked up inside.

Laos is still a 'virgin' territory.  There are many areas to discover at the surface and subsurface.  Very anxious to know what is underneath 'Plain of Jars' by running a electromagnetic, magnetic or shallow seismic survey over the area and will see what lies underneath.  Maybe ancient 'city of gold' lies ;).

Main mineral resources in Laos Tin, gold, gypsum, iron, coal, copper, potash, lead, limestone, antimony.
:o ;)

PEACE wrote on 18^th Apr, 2011 at 1:37pm:

Laos is still a 'virgin' territory.  There are many areas to discover at the surface and subsurface.  Very anxious to know what is underneath 'Plain of Jars' by running a electromagnetic, magnetic or shallow seismic survey over the area and will see what lies underneath.  Maybe ancient 'city of gold' lies ;).

I for one don't need to warn you to be careful around those areas. I'm not sure if (like mines) UXO's can be detonated by electromagnetic instruments.

Very true about UXOs.  You do airborne remote sensing first to map out all UXO locations, remove them and then come in with these geophysical methodologies.

Gold is not economical? Probably there as placer deposits on riverbed.


llX wrote on 18^th Apr, 2011 at 3:09pm:

Main mineral resources in Laos Tin, gypsum, iron, coal, copper, potash, lead, limestone, antimony. :o ;)

Laos also had a lot of gold. To open mining company you might need connection and know somebody higher up. They say "It not what you know it's who you know."
;)


PEACE wrote on 18^th Apr, 2011 at 7:09pm:

Gold is not economical? Probably there as placer deposits on riverbed. llX wrote on 18th Apr, 2011 at 3:09pm: Main mineral resources in Laos Tin, gypsum, iron, coal, copper, potash, lead, limestone, antimony. :o ;)