Our history


  • Ban Houayxai Gold-Silver Operation's 10th anniversary celebrations
    PanAust and its Lao-registered company, Phu Bia Mining celebrated the 10th anniversary of Ban Houayxai in February, marking a decade of strong beginnings, enduring partnerships, and vibrant communities.


  • Response to COVID-19: PanAust and it's Lao-registered company, Phu Bia Mining support the Government of Laos' national COVID-19 vaccination program.

  • 96 percent of Phu Bia Mining employees and contractors are vaccinated against COVID-19 through the voluntary Company vaccination program. 


  • Response to COVID-19: PanAust responds to the global COVID-19 pandemic prioritising the safety of its workforce and the broader community and supporting its customers.

  • PanAust secures a new Exploration Licence in Myanmar.


  • In May, PanAust announces its interest in the Frieda River Project increases to 100 per cent.


  • On 6 July, following the approval by the Government of the Republic of the Union of Myanmar, PanAust announced it had secured three new Exploration Licences in Myanmar.
  • PanAust and its Lao-registered company, Phu Bia Mining proudly celebrated the 10th anniversary of its flagship Phu Kham Copper-Gold Operation in May.


  • PanAust and Interplast Australia & New Zealand complete a successful PanAust-sponsored surgical program at the Vanimo General Hospital in Papua New Guinea. The program is the continuation of the partnership between PanAust and Interplast which commenced in Laos in 2012.


  • On 8 February, PanAust announced it had been granted three Exploration Licences in Myanmar, with a contract area covering 1,400 square-kilometres.
  • On 19 May, PanAust announced the completion of the feasibility study for the Frieda River Project in Papua New Guinea.
  •  workshops and associated supply facilities.


  • On 2 April, PanAust announced Guangdong Rising Assets Management Co. Ltd's unconditional, off-market takeover offer to acquire all its shares at a cash price of A$1.71 per share. On 8 May, the offer was raised to A$1.85 per share.
  • On 20 July, the compulsory acquisition process was completed and PanAust became a wholly owned subsidiary of Guangdong Rising H.K. (Holding) Limited which is a wholly owned subsidiary of Guangdong Rising Assets Management Co. Ltd.
  • From the close of trading on Friday 12 June, PanAust was removed from the Australian Securities Exchange (ASX) list.


  • PanAust announced that the acquisition of an 80 per cent interest in the Frieda River Project in Papua New Guinea from Glencore plc.


  • PanAust announced a partnership with the Asian Development Bank to provide US$41 million towards a project to deliver clean water and better sanitation facilities to residents of 11 towns in Laos.


  • The Ban Houayxai Gold-Silver Operation opened on 20 April with the first production of gold-silver doré commencing in May.
  • The Phu Kham Upgrade Project was commissioned in September resulting in a 33 per cent increase in ore processing capacity from 12 to 16 megatonnes per annum at the Phu Kham Copper-Gold Operation.


  • PanAust acquired a majority interest in the Inca de Oro Copper-Gold Project in Chile from Codelco.


  • The Board approved the development of the Ban Houayxai Gold-Silver Project.


  • First full year of production at the Phu Kham Copper-Gold Operation; producing more than 54,000 tonnes of copper at a C1^ cash cost of US$0.97 per pound copper after precious metal credits.


  • Phu Kham Copper-Gold Operation construction completed ahead of schedule and within the US$241 million capital budget.
  • Commercial operations commence for the Phu Kham Copper-Gold Operation and first sales of copper-gold concentrate.


  • PanAust is listed on the S&P/ASX 200 Index.
  • First Phu Kham copper-gold ore mined and stockpiled and Phu Kham Copper-Gold Operation commissioning commenced.



  • Board approved the US$241 million Phu Kham Copper-Gold Project development.


  • PanAust gains ‘producer’ status following first gold pour at the Phu Kham Heap Leach Gold Operation.

  • Phu Kham Copper-Gold Project feasibility study completed and feasibility extension program commenced based on substantially expanded mineral resource.


  • Phu Kham Copper-Gold Project preliminary study completed.
  • Commenced site works for the Heap Leach Gold Operation representing the first phase of an initial two-phase development of the Phu Kham deposit.


  • Phu Kham Heap Leach Gold Project pre-feasibility study commenced.

  • Commenced preliminary study to assess the potential of the Phu Kham copper-gold deposit.


  • Positive results from drilling at the Phu Kham copper-gold deposit.

  • Positive results from the initial drilling phase at the Ban Houayxai gold-silver deposit.


  • Agreement signed with Normandy Anglo for PanAust to acquire the Phu Bia Contract Area in Laos.

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.