PanAust’s corporate office in Brisbane Australia provides leadership and support across the Group in relation to strategy, financial management, commercial and technical services, risk management, sustainability, corporate communications, human resources, governance and reporting.
Reflecting its operating capacity and commitment to building a worldwide business, PanAust is structured into two business units: PanAust Asia and Project Development.
PanAust Asia business unit
The PanAust Asia business unit has responsibility for operations in Laos and for supporting the implementation of business development strategies within Laos and the region.
PanAust holds a 90 per cent interest in the Lao-registered company, Phu Bia Mining (PBM) Limited. The Government of Laos holds the remaining 10 per cent. PBM has a Mineral Exploration and Production Agreement (MEPA) with the Government of Laos. The MEPA regulates exploration, development and mining activities within the 2,600 square-kilometre Contract Area, and sets out the tax and royalty obligations.
PanAust holds an 90 per cent interest in Wuntho Resources Company Limited (WRCL) and has established a joint venture with Myanmar Energy Resources Group International Company Limited (MERG), a Myanmar-based company which holds the remaining 10 per cent of WRCL.
WRCL hold tenements covering roughly 775 square-kilometres in the Sagaing region of Myanmar and has applied for additional Exploration Licences in the region.
Project Development business unit
The Project Development business unit has responsibility for the Company’s development projects and provides technical and operational improvement support. It is responsible for the preparation of technical studies and for project implementation to deliver capital-efficient project development and strategic improvement initiatives to support and enable the Company’s growth.
Papua New Guinea
The Frieda River Project is held by the Frieda River Joint Venture, an unincorporated joint venture between Frieda River Limited (a PanAust subsidiary company) and Highlands Frieda Limited, a wholly owned subsidiary of Highlands Pacific Limited. Frieda River Limited manages the Project and holds an 80 per cent interest. The Independent State of Papua New Guinea has a right, prior to the grant of a Special Mining Lease, to purchase up to 30 per cent equity in the Project at a price pro-rated to the accumulated history expenditure of the Project.
PanAust holds a 66 per cent interest in the Inca de Oro Copper-Gold Project through a Chilean incorporated joint venture, Inca de Oro S.A. (with Codelco). The Company also as a 100 per cent interest in the nearby Carmen copper-gold deposit.