LXML pays US$3.4 million Royalty for Q4 2020 Gold-Copper Production
March 29, 2021
Mr Phoudong Soukhavong, Director General of State Assets Management Department, Ministry of Finance (right) received royalty payment for 4th Quarter of 2020 Copper-Gold Production of US$3,438,220.28 from Mr Paul Harris, General Manager of Lane Xang Minerals Limited (left). Deputy Head of Division of Ministry of Finance (MOF) Ms Phaivone Thoumphavanh, Deputy Head of Division MOF Mr Douangdy Phandanouvong, Technical Officer of MOF Mr Anousone Khotpathip, LXML Managing Director Mr Saman Aneka and LXML External Affairs Superintendent Ms Daomany Chanphakeo were also present to witness the handover.
This payment brings the total royalty paid to the Lao Government by LXML with respect to 2020 earnings to US$14.5 million, in addition to other revenue payments such as profit, fuel, and salary taxes.
Since production commenced in 2003, LXML Sepon has contributed over US$1.5 billion in direct revenue to the Lao Government including over US$172 million in royalties.