Kingsgates Withdraws Arbitration Claim in Akara Gold Mine Dispute

Kingsgates has withdrawn its arbitration claim in the Akara gold mine dispute, voluntarily terminating the 8-year legal battle without Thailand paying any compensation. During the Cabinet meeting on February 17, Industry Minister Thanakorn Wangboonkhongchana revealed that both parties - Kingsgates and Thailand - agreed to voluntarily end the dispute. "Kingsgates has unconditionally withdrawn all claims from the arbitration panel, which has officially terminated the proceedings," the minister stated. The dispute, which began in 2017 when it was first brought to arbitration, has now been completely resolved without any financial burden on Thailand. Natthapol Rangsittpol, Permanent Secretary of the Ministry of Industry, explained that the working group systematically developed a legal strategy, collaborating closely with relevant agencies and legal advisors to demonstrate Thailand's strong position. The approach involved preparing for potential arbitration while simultaneously negotiating amicably, ensuring no additional burdens would be placed on the country.