Corporate governance

PanAust has in place, and complies with, a range of corporate governance policies and procedures.

International Finance Corporation

The International Finance Corporation’s (IFC) Performance Standards on Social and Environmental Sustainability for operating projects.

Mineral Council of Australia logo

The Minerals Council of Australia’s (MCA) Enduring Value* incorporating global industrial sustainability initiatives and providing guidance on the International Council on Mining and Metals’ (ICMM) Sustainable Development Framework.

*PanAust is an associate member of the MCA and a signatory to its ‘Enduring Value – The Australian Minerals Industry Framework for Sustainable Development’. The framework commits companies to upholding fundamental human rights and respecting cultures, customs and values in their dealings with people affected by their activities. As an associate member of the MCA, PanAust is committed to applying operational standards globally that are consistent with Australian operational standards, while accommodating variations as a result of cultural, geographical or environmental circumstances in Laos, Thailand and Chile.

International Council on Mining & Metals logo

Alignment with the ICMM’s approach to climate change.

International Cyanide Management Code logo

The International Cyanide Management Code is a voluntary industry program administered by the International Cyanide Management Institute for the gold-mining industry that promotes the responsible use of cyanide; PanAust is a signatory to the Code and is certified in full compliance for the Ban Houayxai Gold-Silver Operation in Laos.

GRI Empowering Sustainable Decisions

The Global Reporting Initiative (GRI) sustainability reporting framework and guidelines; PanAust reports the GRI indicators that are material to its business as determined through its risk management approach, materiality determination process and feedback from stakeholders. See PanAust’s Sustainability Reports.

Voluntary Principles on Security and Human Rights

The Voluntary Principles on Security and Human Rights (VPSHR); a set of principles designed to guide companies in maintaining the safety and security of their operations within a framework that encourages respect for human rights; PanAust has been a member company of the VPSHR since 2013. Click here to view the Company’s VPSHR Annual Report.

Corporate Governance Guidelines

  • PanAust's Vision and Values provide a framework for business strategy, and the Company’s behaviour and culture. The Company's code of conduct, The PanAust Way outlines the minimum standards of behaviour expected of PanAust's directors, employees and business partners.

  • PanAust provides sponsorship and donations to particular programs, organisations or causes that build goodwill in operational areas and/or enhance relationships with key stakeholders. In doing so, PanAust applies the following principles to determine and prioritise sponsorship and donations.

  • Enterprise Risk Management Policy documents the framework, processes and procedures to be applied by PanAust in the oversight and management of material business risks.

  • PanAust's approach to product stewardship focuses on the storage and transport of concentrate from mine gate to port through to the delivery of product that meets customer specifications and in-country requirements.

Precautionary Principle

PanAust applies evidence-based decision-making where practical. The Company uses its enterprise risk management process to evaluate the environmental, social and economic impacts of mining projects approved by the Board. 

Phu Bia Mining Logistics team meeting

Environment and social impact assessments are completed prior to the development of operations and are guided by statutory frameworks with work undertaken by international consultants.

Whistleblower Service

The PanAust Whistleblower Service is a confidential and anonymous way for PanAust employees and stakeholders to report or raise concerns about misconduct at work through an independent externally operated body. PanAust’s Whistleblower Standard provides the framework for making anonymous and confidential reports through the Whistleblower Service.

Mr Lei Feng

Non Executive Director

Mr Lei Feng has over 20 years of financial management experience in various sectors including printing, packaging, shipbuilding, grain trading, mining and finance.

Mr Feng began his career in 2004 as a Financial Accountant at C & C Joint Printing Co., (Guangdong) Ltd., after completing a Masters of Business Administration degree between 2002 and 2004 at Sun Yat-Sen University.

After five years, in 2009, Mr Feng was appointed as Financial and Executive Manager at Heshan Innopak Co., Ltd. Since 2013, Mr Feng has held senior financial positions with various Guangdong state-owned companies regulated under the State-owned Assets Supervision and Administration Commission.

In 2013, Mr Feng took up a new appointment as Financial Controller, at Guangxin Shipbuilding and Heavy Industry Co., Ltd and was appointed in 2016, as the Financial Controller with Donlink Group Co., Ltd.

In 2018, Mr Feng joined Guangdong Rising Holdings Group Co. Ltd., (GRHG) as the Deputy General Manager of the Finance Department and later in 2020 he was appointed as General Manager of Finance. In early 2022, Mr Feng took on his current position of General Manager of Guangdong Rising Investment Development Co., Ltd, with GRHG.

Mr Feng became a Non-executive Director of the PanAust Limited Board of Directors on 10 May 2022.

Mr Daling Zheng

Managing Director and Chief Executive Officer
MCom, MBA, PGDip

Mr Daling Zheng is PanAust Limited’s Managing Director and Chief Executive Officer. He has 20 years of experience in asset management and investment in China and internationally and holds a Master of Commerce (Applied Finance) from the University of Queensland, an MBA from Murdoch University, and a postgraduate diploma from the Queensland University of Technology.

Prior to joining PanAust Limited, Daling worked for Shenzhen Zhongjin Lingnan Nonferrous Metal Co. where he was involved in mergers, acquisitions, and the asset management of international mines.

Daling’s previous experience includes as an investment approval officer in the Investment Management Committee of the China Ping An Group where he was responsible for the acquisition of global-listed companies and commercial banks, underwriting, investing in corporate bonds, and participating in Moody and Standard & Poor’s credit rating on Ping An Group. He has also been responsible for corporate banking at the China Minsheng Bank, and was an analyst in the energy and nonferrous metal industry at CITIC Futures.

Daling was appointed an Executive Director of PanAust Limited on 27 August 2018, Chief Financial Officer on 15 January 2019 and Deputy Chief Executive Officer on 23 July 2020. In 2022 Daling was appointed as Managing Director and Chief Executive Officer of PanAust Limited.

Mr Shu Yao


Mr Shu Yao is a Mining Engineer with over 30 years’ of experience in mining operations and management.

Mr Yao joined Shenzhen Zhongjin Lingnan Nonfemet’s (Nonfemet) Fankou Mine – one of the largest lead and zinc producing mines in Asia – in 1989 as a Mining Technician. He would later serve as the Mining Manager, General Manager of the Mining Department, and Assistant General Manager during his 26 year tenure with the Mine.

In 2015, Mr Yao transitioned to work directly for Nonfemet as the Assistant President; General Manager of the Mineral Resource Department. While with the Company, Mr Yao would go on to hold the roles of Deputy President and Director, and Executive Deputy President and Director.

In 2020, Mr Yao transitioned to his current role of Chairman of Guangdong Rising Investment Development Co. Ltd; a first tier subsidiary of Guangdong Rising Holdings Group Co. Ltd.

Mr Yao became the Chairman of PanAust Limited on 11 May 2021.