Australian mining firm resorts to arbitration proceedings against Thai government

Kalgoorlie The Big Pit

View of a gold mine. Photo: Brian Voon Yee Yap.

Kingsgate Consolidated Limited, the major shareholder of Akara Resources Plc, has decided to resort to the arbitration proceedings against the Thai government in order to claim compensation for what it claimed as unlawful expropriation of its gold mine by the government.

The company said in its statement to the Australia Securities Exchange on Nov 2 that it had to take this legal approach because it has been unable to achieve any settlement on its claim against the Thai government despite its best efforts to do so.

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By Thai PBS

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