LXML Sepon through its VVIP Executive Membership Continues Decade-Long Support to LNCCI

August 24, 2023

23 August 2023 – LXML's Managing Director and Stakeholder Relations Manager, Mr. Saman Aneka presented the LXML’s Executive VVIP Membership Registering Fee at LAK 80 million to the Lao National Chamber of Commercial & Industry (LNCCI) received the contribution by Mr. Daovone Prachanthavong – Standing Vice President to LNCCI and his Board. This VVIP Membership is the top honorary position in the LNCCI organization, it marks LXML reaching more than ten years of supporting to the LNCCI's capacity building and promoting growth in the Laos Business Sector.

During the event, Mr. Saman also debriefed Mr. Daovone on the good records of cooperation between LNCCI and LXML for a long period of time in the past, and by ways the LXML team with Chifeng LXML are delivering the best effective community development receiving good participation from the local people living in the community host to the Sepon Project highlighted ongoing initiatives, such as the food security through the agriculture and irrigation, the education and communal health programs, as well as plans for future projects aimed at improving the well-being of local communities.

Mr. Saman emphasized the importance of engaging with community members and stakeholders to ensure that their voices are heard and that their needs are addressed. He also stressed the need for sustainable development practices that minimize environmental impact and promote long-term economic growth in the host community and Lao country.

Since its establishment in 2003, Sepon Mine has produced over 1.5 million ounces of gold and 1.1 million tons of copper, generating direct revenue of over US$1.7 billion in taxes, royalties, and dividends for the Lao PDR. The mine has also provided significant indirect benefits through employment, training, community development, and payments to local business partners and suppliers. Sepon's community development programs have delivered over US$20 million worth of projects and investments, benefitting more than 40,000 people in Vilabouly District, while local business groups have received US$50 million in community income.

LXML's commitment to excellence has earned it an A+ rating from the Lao government for a decade, and the company has received numerous awards acknowledging its contributions to economic and social development in Laos. These include the 2023 Lao Business Leader Award for recognition as a leading company in compliance with international environmental standards, the 2021 Outstanding Business Leader Award for COVID-19 prevention in Laos, the 2020 ASEAN Business Award for Combating COVID-19, the ASEAN Minerals Awards in 2019 and 2017, the 2016 ASEAN Award for Mining Excellence and ASEAN Award for Corporate Social Responsibility Development.

As LXML Sepon prepares to mark its 20th anniversary of mining in November, the company plans to celebrate its achievements, recognize the contributions of its employees, partners, and stakeholders, and renew its commitment to responsible and sustainable mining practices.

LXML remains dedicated to responsible mining practices and supporting Lao development as a valued partner.