LXML Delivers US$13 Million in 2021 Profit Tax to Lao Government

April 21, 2022

On 5 May 2022, Lane Xang Minerals Limited (LXML) represented by Mr Saman Aneka, Managing Director, made a profit tax payment of US$13,348,764.91 million with respect to 2021 Copper and Gold Production, bringing total revenue (including profit tax, royalty, and dividend) paid to the Lao Government in 2021 to US$40.84 million.

Mr Bounpaseuth Sikounlabouth, Director General of Tax Department, Ministry of Finance (right), received the tax payment from Mr Saman Aneka, Managing Director of Lane Xang Minerals Limited (left).

Delegates from Ministry of Finance include Director of Tax Revenue Management Division Mr Vangyia Xainalor, Director of Risk Management and Inspection Division Mr Latsamy Thongbouasy, and team, LXML External Relations Superintendent Ms Daomany Chanphakeo and LXML Accounts Payable and Payroll Superintendent Ms Souknilanh Ouchaleun were also present.

“As a longstanding partner with strong financial contributions to Lao PDR, we’re proud to make this significant contribution as the economy recovers from the COVID-19 shock.

Sepon Project is continuing to grow. As the best performing operation, acknowledged as Grade A (+) by the Lao Ministry of Energy and Mines, Sepon is in track to establish the first modern underground mine in Laos.

LXML supports local contractors such as EDL, Lao State Fuel, Savan Transport and Logistics, and other local business,” said Mr Saman Aneka.

Since production commenced in 2003, LXML Sepon has contributed over US$1.6 billion in direct revenue to the Lao Government, including over US$827 million in profit tax.