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Metal Tiger says its Thai joint venture is now clear to formally progress licence applications

The new mining strategy in Thailand now takes into account: the classification of mineral zone; the formulation of mineral policy; the development of a regulatory mechanism; and the promotion of general public participation

Boh Yai ore chute hopper
The Master Plan classifies designated mineral deposit areas where mining will be permissible

Metal Tiger PLC’s (LON:MTR) plans to spin-off its interests in the Song Toh and Boh Yai mines in Thailand have received a boost.

The investor in mineral projects said the Thai Cabinet approved the 20-year mineral management strategy (2017-2036) and the five-year mineral management master plan for 2017-2021, so both the strategy and the Master Plan are effective immediately.

READ: Metal Tiger shelves Thai IPO plans for its joint venture​

Uncertainty over when, or even if, the Thai government would give the green light had led to Metal Tiger yanking plans to float shares in its Thai joint venture (JV); the other JV partners are the Karnchanaburi Exploration and Mining Company (KEMCO), Boh Yai Mining Company (BYMC) and Pornnaret Klipbua.

The upshot of Tuesday’s announcement is that the Thai JV can 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.

“The 20-year mineral management strategy and the first five-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,” said Michael McNeilly, the chief executive officer of Metal Tiger.

Shares in Metal Tiger were unchanged in afternoon trading.

Quick facts: Metal Tiger PLC

Price: 1.325 GBX

AIM:MTR
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Market Cap: £20.21 m
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