On July 31, 2024, Lane Xang Minerals Limited Company (LXML) convened its 30^th annual meeting with the Government Management Committee for the Sepon Gold-Copper Mine Project alongside representatives from the relevant Ministries, Savankhet Province, and Vilabouly District. The meeting was chaired by Mr. Thongpat Inthavong, Deputy Minister of the Ministry of Energy and Mines and Chairman of the Government Management Committee for Sepon Gold-Copper Mine, and co-chaired by Mr. Gao Bo, President of LXML.

The participants included Representatives from the Prime Minister's Office, General Directors, Deputy Directors of the relevant Departmental, Mr. Valiya Sichanthongthip - Governoror of Vilabouly District, Government technical staff, and Company leaders team including Mr. Saman Aneka, LXML Managing Director; Mr. Zhou Xinbing, Vice President of LXML; and Mr. Jeremy Davidson, LXML General Manager with LXML technical staff.

The purpose of the meeting is to update the Company’s mining operation work progress and plan for the Sepon Project’s growth in the years to come. Other Business is to foster for best collaborative working relationship between the Government and LXML, ensuring mutual understanding and increased efficiency in their cooperative efforts.

In the opening speech, Mr. Thongpat Inthavong - Vice Minister of Energy and Mine greatly acknowledges the significant contribution from LXML to the socio-economic development of the Lao PDR. The Vice Minister emphasized the company’s role in the development of local communities around the Sepon gold-copper mine project.

Vice Minister urges both the company and relevant government departments to diligently implement the MEPA agreement in a collaborative and effective manner. Furthermore, he encouraged LXML to maintain its proactive approach, striving for excellence in mining operations and ensuring community livelihood and safety. Vice Minister Thongphat Inthavong strongly acknowledges LXML as the Best Performing Mining in Laos.

As the Co-Chairman Mr. Gao Bo - President of LXML, expressed sincere appreciation to the government for recognizing the company’s performance and its invaluable contributions to the economic and social development of the Lao PDR. He reiterated LXML's commitment to enhancing the quality of development at Sepon through improved efficiency profitable to both the Govt., LXML, and stakeholders. LXML President acknowledged the importance of the close partnership with the Government, which has been vital for the sustainable development of LXML and the Sepon project, while also benefiting local communities.

He added “In 2023, LXML implemented exchange rate subsidies for all Lao employees, leading to an average salary increase of over 40% to help mitigate the impacts of exchange rate fluctuations. The company paid $28 million in corporate income tax, $22 million in royalties, and allocated $1 million to a community development fund, in addition to investing $230,000 in community infrastructure. To enhance the longevity of the mine while benefiting local communities, LXML invested $11 million in technological innovations and exploration efforts, resulting in a significant increase in gold resources, which extended the mine's lifespan.”

The meeting featured a comprehensive report on the company’s activities during 2023, presented by Mr. Saman Aneka, Managing Director of LXML. His report highlighted LXML's great contributions to the Community Development include the Food Security through the agriculture, the Education for next generation, the community health care, and infrastructure in within communities surrounding the Sepon Mine project.

Additionally, Mr. Jeremy Davidson, the General Manager of LXML, presented an overview of the company's production and operations over the past year, as well as plans for the upcoming year willingness to find some more gold mineral potential areas for Sepon Growth, and long life of mine.

LXML remains committed to the development of local talent, prioritizing the cultivation of Lao nationals in management roles and offering extensive training opportunities across various disciplines. Currently, LXML employs approximately 3,860 individuals, with 95% being Lao nationals, over 25% of whom are women, and 63% residing in the vicinity of the Sepon project. Notably, 97% of supervisory positions and 60% of superintendent positions are held by Lao personnel. LXML is dedicated to continuing its mission of developing high-level mining talents in Laos.

The meeting concluded with a productive exchange of opinions and a key question-and-answer session, fostering open dialogue on various issues, and collaboratively seeking solutions.