Laos-based PanAust subsidiary, Phu Bia Mining (PBM), showcased its positive socio-economic contributions to the Government and people of Xaisomboun Province in Laos at the Trade and Food Fair held between 7 to 11 January. The Fair is part of several provincial events organised to mark the 10-year establishment of Xaisomboun Province.

To honour the provincial celebrations, PBM provided US$5,000 to Mr. Souksavath Vongphomlek, the Xaisomboun Provincial Vice Governor, who represented Xaisomboun Provincial Government.

At the fair, the Company representatives set up displays highlighting projects from the PBM Community Development Fund (CDF) and Sustainable Livelihoods Programs (SLP) enabling attendees to learn more about our support to local communities in Xaisomboun Province. Attendees also met with local SLP communities, discussed opportunities for future commercial partnerships, and had the opportunity to purchase locally produced clean fruit and vegetables.

The Company’s SLP was established in 2018 to assist local SLP communities to develop good quality, clean commercial agricultural products. PBM have now completed 436 CDF projects, over the past 15 years, with a total investment of US$4,945,772, in Ban Nam Mo, Nam Gnone and Nasaysavang. CDF has six focus areas including agriculture, education, community health, infrastructure provision, small business development & access to finance, and capacity building for government agencies.

For the past 10 years, Phu Bia Mining has partnered with the national and provincial Governments to improve the livelihoods of local communities in Laos and Xaisomboun Province in particular. In 2022, our payments to Xaisomboun Province’s budget totalled US$56.9 million, accounting for 77 per cent of PBM’s total contribution in the country. In 2023, PBM generated US$70 million for Xaisomboun Province.

These payments and other CDF and SLP investments are a key part of our long-term objectives to grow our business in Xaisomboun Province and create positive socio-economic impacts to the country.