Following the recent news reports on 18 December 2024, regarding the Central Administrative Court’s (“the Court”) dismissal of Akara Resources Public Company Limited’s (“the Company”) petition to revoke the order by the Director-General of the Department of Primary Industries and Mines (“DPIM”), the Company wishes to clarify the facts to promote a proper understanding among all parties.
The judgment stems from the Company’s legal action filed on 2 August 2018, seeking to annul the DPIM order requiring the Company to address alleged leakage in TSF1 and ensure water quality in the project area complies with standards (“the Order”). The Company contested the Order on grounds of vagueness, lack of actionable detail, and reliance on a non-unanimous resolution of a fact-finding committee on conflicts, environmental impacts, and health concerns related to the operations of the Chatree Gold Mine. The resolution cited in the DPIM’s Order originated from a meeting of the fact-finding committee, where 7 members voted in favor, 6 voted against, and over 10 abstained. However, the total number of committee members was unclear, as no quorum count was recorded. The resolution was neither unanimous nor supported by a majority, as fewer than half of the committee members voted in favor. Importantly, the committee did not officially certify the meeting minutes. Written dissenting opinions by expert subcommittee members responsible for the study referenced in the resolution were included in the appendix of the final report. The appendix stated: “Certain members of the expert subcommittee expressed differing views on the final report. Details of these differing opinions are available in the appendix.” This indicates that the committee was unable to reach a conclusive agreement on the substance of the report.
Both the Company and the DPIM have been actively working together to resolve ongoing issues in accordance with the Minerals Act, B.E. 2560 (2017) and the National Gold Management Policy, B.E. 2560 (2017). These efforts include the preparation of baseline environmental and public health data, the establishment of mining buffer zones, and the creation of risk insurance and health monitoring funds. These initiatives ensure that the Company’s operations meet international standards and have no adverse impact on the environment or public health. Additionally, the Company has developed plans for the closure and rehabilitation of TSF1, as instructed by the DPIM. These plans, prepared under the guidelines of the Minerals Act, B.E. 2560 (2017), were submitted for approval per document No. Or Gor. 0512/4801 dated 14 September 2017. The Company has consistently implemented these plans, with rigorous quarterly inspections and monitoring conducted by a multidisciplinary team, including representatives from DPIM; Bureau of Primary Industries and Mining Region 5 (Phitsanulok), Provincial Industry Offices (Phichit and Phetchabun), Regional Environmental and Pollution Control Office 4 (Nakhon Sawan), Provincial Natural Resources and Environment Offices (Phetchabun and Phichit), Local administrative organizations. These collaborative efforts led to the successful renewal of the Company’s mining leases and metallurgical processing licence in 2021 and 2022, respectively.
The Company has not remained passive on issues related to TSF1. To ensure clarity and provide reliable, systematic data, the Company initiated the “Stability and Leakage Assessment of TSF1” project in collaboration with King Mongkut’s University of Technology Thonburi. This study was conducted following the work plan approved and endorsed during a meeting with the DPIM executives and representatives from relevant agencies on 28 March 2022.The study’s final report, dated 13 September 2024, concluded that TSF1 shows no signs of leakage. The Company submitted this report to the DPIM on 18 September 2024.
Since resuming operations in March 2023, the Company has conducted all activities under the strict oversight and regular inspections of the relevant government authorities. Additionally, the Company has implemented annual health check-ups for employees and residents within a 5-kilometer radius of the mine. Blood and urine test results, analyzed by the laboratory at Ramathibodi Hospital, have shown no abnormalities or evidence of contamination impacting the environment or daily life.
The Company also submitted an operational audit report for the Chatree Gold Mine, conducted by Behre Dolbear International Limited, a global expert in mine inspections and evaluations with over 100 years of experience. The DPIM selected this entity to perform a thorough review the Company’s operations. The assessment concluded that the operations adhere to international standards, employ modern technology ensuring safety for both human life and the environment, and are comparable to leading mines worldwide. Furthermore, no leakage of heavy metals from the tailings storage facilities into nearby communities was detected.
Mr. Cherdsak Utha-aroon, Lead General Manager of the Company, stated that the dispute in question originated several years ago. Over the past 2–3 years, both parties have actively worked to resolve the issues constructively. The Company has strictly followed to all directives and recommendations. Currently, the Company’s legal advisors and technical experts are thoroughly reviewing all aspects of the case, including the legal and technical elements referenced in the DPIM’s Order. Independent studies approved by the DPIM confirm that the Company’s tailings storage facilities are secure, with no leakage. Furthermore, the Company has consistently adhered to the guidelines and standards established by the DPIM and relevant regulatory bodies. Operations have been conducted safely, in compliance with international standards, without any adverse effects on the environment or public health. Employees, their families, and local communities have long recognized and supported the Company’s commitment to safety and environmental stewardship.
Forr more information, please contact Naru-orn Klaotien at 08-9522-6169 Corporate Communications, Akara Resources Public Company Limited
Discover the True Value of Gold: A Timeless Gift for the New Year
Gold is one of the most valuable natural metals in the world, admired for its brilliant shine, timeless beauty, and scientific properties that make it unique. It’s no wonder that gold has been a symbol of wealth and prosperity for centuries and remains highly sought after across the globe. As the New Year approaches, many people are looking for meaningful and valuable gifts to give to loved ones. Gold jewelry and gold bars are always great choices — whether as a personal investment or a symbol of appreciation. However, with recent concerns about real gold vs. fake gold, many buyers and investors are worried about purchasing authentic gold. To help you make the right choice, Akara, a trusted gold producer in Thailand, is here to share valuable insights about gold authenticity and how to choose the right type of gold.
Gold: The Origin of Preciousness
Gold is one of the world’s most precious metals, formed through complex geological processes and often found in quartz veins, granite rocks, and placer deposits. Its distinctive features — bright yellow color, softness, and malleability — make it easy to shape. Additionally, gold is resistant to corrosion and does not react with most chemicals, making it durable and long-lasting. Beyond its scientific uniqueness, gold has held a significant role in human history. It has been a symbol of wealth and power across various civilizations, including in Thailand and around the world. Historically, gold was used as the ‘gold standard,’ the world’s first international monetary system, which pegged currency value to gold reserves. Although this system was eventually discontinued, gold continues to be a crucial part of the global financial system.
Gold is widely regarded as a safe-haven asset, especially during economic crises. Its value tends to rise when other assets decline, making it a reliable investment. Beyond its financial significance, gold holds deep cultural and religious importance. It is often used in religious rituals, traditional ceremonies, and as jewelry, symbolizing status, prosperity, and elegance.
From Ore to Gold: The Process Behind Beauty and Prosperity
Extracting gold from ore is a complex process that requires specialized knowledge, expertise, tools, technology, and innovation. The main steps involved in gold extraction from ore are as follows:
Crushing: The gold ore is finely ground and mixed with process water to form a slurry.
Extraction: In this step of the gold extraction process, sodium cyanide is used to dissolve gold from the ore. The dissolved gold is then adsorbed onto activated carbon before being stripped to obtain the pregnant eluate. Gold and silver recovery from the pregnant eluate is achieved through electrowinning, followed by the smelting process to produce Doré bars. A key innovation in this step is the precise control of sodium cyanide usage, which enhances both efficiency and environmental responsibility.
Refining: After gold is extracted, it undergoes a refining process to achieve the highest level of purity. The purified gold is then crafted into fine jewelry or used in various industrial applications.
At Akara, we are committed to responsible mining practices that prioritize safety, environmental protection, and community well-being. We uphold some of the highest safety standards in the global gold mining industry by adopting modern, environmentally friendly technologies. Our innovations include precise cyanide management, secure tailings storage facilities with leak-proof systems that meet international standards, and a zero-release policy to prevent tailings from entering the environment. We also recycle water from the production process and use advanced blasting technologies to reduce noise and dust, minimizing the impact on surrounding communities and ecosystems.
Clarifying the Differences: Pure Gold vs. Karat Gold vs. Fake Gold – Know the Facts to Avoid Being Fooled
When it comes to gold, purity is the most critical factor that determines both its value and properties. Understanding the differences between pure gold, karat gold, and fake gold is essential to ensure you make informed decisions when buying or investing in gold. Here’s what you need to know:
1. Pure Gold (24K): The Standard of Preciousness
Pure gold, also known as 24K gold, is considered the highest standard of real gold, with a purity level of 99.99%. This means that out of 1,000 parts, 999.9 parts are pure gold. However, in Thailand, the standard purity for gold is 96.5% (equivalent to 23.16K), as regulated by the Gold Traders Association and the Consumer Protection Board (CPB).
Pure gold has a rich yellow color, is soft, and can be easily shaped. However, it is also prone to scratching and can be marked with even slight pressure. Due to its softness, 24K gold is primarily used for making gold bars, gold coins, and certain types of jewelry such as necklaces and bracelets.
2. Karat Gold: The Perfect Balance of Strength and Purity
Karat gold refers to gold that has been combined with other metals, reducing its purity while increasing its strength and durability. The term “K” or “Karat” indicates the proportion of pure gold in the gold alloy. The higher the karat value, the greater the percentage of pure gold. Common metals used to alloy with gold include silver and copper, which enhance the strength, durability, and color of the gold, making it more suitable for various applications. Karat gold is widely used in jewelry, electronics, electrical appliances, and even in transportation and communication industries. Here are the most popular types of karat gold and their specific uses:
18K Gold: Contains 75% pure gold, giving it a rich white-yellowish color. It is highly popular for fine jewelry.
14K Gold: Contains 58.33% pure gold, with a white-yellow hue. This type of gold alloy is commonly used in jewelry and electronics due to its durability and affordability.
9K Gold: Contains 37.5% pure gold, resulting in a pale-yellow color. It is often used for affordable jewelry and electronic components.
3. Fake Gold: How to Identify Imitations and Avoid Being Deceived
Because gold is a highly valuable commodity, it often attracts counterfeiters looking to deceive buyers with fake gold. Fake gold typically has very low purity or is plated with a thin layer of gold over cheaper metals, giving it the appearance of genuine gold. However, its value and properties are vastly different from real gold. Understanding how to spot fake gold is essential to protect yourself from scams. Here are some simple yet effective gold testing methods to help you identify real gold vs. fake gold.
How to Spot Fake Gold: 5 Simple Methods
Check for a Stamp: Genuine gold will have a purity stamp indicating its quality, such as 96.5%, 99.99%, or 24K, 18K. If the item lacks a stamp, it may be fake.
Magnet Test: Real gold is non-magnetic and will not be attracted to magnets. If the item is pulled toward a magnet, it is likely fake gold.
Hardness Test: Pure gold is soft and can be easily scratched. If you lightly scratch or bite the gold, it will leave a mark. If it doesn’t, it could be fake.
Gold Testing Solution: A gold testing solution can help determine authenticity. This method is often used by professionals to verify whether a piece is genuine gold.
Price Check: Gold prices are regulated by the Gold Traders Association. If an item is being sold at a suspiciously low price, such as during extreme promotions or discounts, it may be fake gold.
Akara: Thailand’s World-Class Gold Mine — From Quality Gold for Thai People to Global Recognition
At Akara, we are committed to producing gold that meets international standards. With our vision of “Thai Gold for Thais, Reaching the World,” Akara has partnered with PMR (Precious Metal Refining Company Limited) to refine our doré bars into 99.99% pure gold, adhering to global quality standards.
This refined gold is then delivered to Ausiris, a renowned business rooted in traditional Thai goldsmithing, where it is crafted into high-quality gold jewelry for global export.
Our integrated process connects Thailand’s gold industry from mining to refining to jewelry production, creating a seamless supply chain. By ensuring that our products meet Free Trade Agreement (FTA) requirements, we benefit from reduced import duties in partner countries. Additionally, we use locally sourced gold and silver, further strengthening Thailand’s competitive edge in the global gold market. This initiative plays a significant role in strengthening the Thai economy by reducing the need for gold imports, thereby minimizing the country’s trade deficit. Additionally, it positions Thailand as a prominent gold production and trade hub within Southeast Asia, enhancing the nation’s reputation in the global gold market while promoting local industry growth and sustainability.
After learning about the gold extraction process and understanding the differences between pure gold, karat gold, and fake gold, you can confidently choose genuine gold for New Year’s gifts or other special occasions. However, to ensure the quality, it is essential to purchase gold from trusted stores where you can verify the gold’s purity stamp and obtain a certificate of authenticity to guarantee the legitimacy of the gold.
Have you ever wondered why some people refer to Akara Gold Mine as the ‘Chatree Gold Mine’? Is it because of someone named Chatree, or is there another reason behind it? Today, we invite you to discover the origin of the gold mine’s name and learn about the remarkable geologist, Chatree Chaichanapoonpol, whose groundbreaking work in gold exploration helped establish what is now the world-class Gold Mine, known as Chatree Gold Mine.
The Origins of Akara Gold Mine: The Man Behind ‘Chatree’
Akara’s story is deeply tied to Thailand’s rich history of gold mining and the significant contribution of Chatree Chaichanapoonpol. Thailand, often referred to as the “Land of Gold,” boasts an abundance of natural resources, and it was Chatree’s expertise that led to the discovery of gold that Akara now produces.
Chatree, a visionary Thai geologist, is credited as one of the first to discover gold ore veins at what would later be known as the Chatree Gold Mine. His precision and deep understanding of rock formations and the environmental conditions required for gold veins were crucial in pinpointing gold-rich areas in Thailand. His contributions were pivotal in transforming the Chatree Gold Mine into Thailand’s largest gold mine, a significant achievement in the nation’s mining history. Unfortunately, Chatree passed away in a car accident in 1992.
Chatree stands in the back row, second from the left.
Chatree Chaichanapoonpol is a highly skilled Thai geologist recognized as one of the leading experts in gold ore exploration. Originally from Chiang Mai province, he graduated with a bachelor’s degree in geology from Chiang Mai University. Driven by a passion for geology, Chatree began his career at Thai Goldfields Co., Ltd., before joining Akara Mining Co., Ltd. (now Akara Resources Public Company Limited). His broad vision and commitment to discovering natural resources that would help develop Thailand led him to explore a variety of minerals across the country, ultimately leading to significant gold discoveries.
According toChamrat Sangsrichan, General Manager ofExploration at Akara,Chatreewas a key colleague in the search forgold depositsin Thailand. Chamrat recalls:
“In the early days, we traveled all around Thailand to investigate potential sites. If any location seemed promising, we would return to follow up on the results of the exploration. The process involved both geological and geochemical surveys. Together with Chatree and another colleague named Surapol, we created maps and recorded geological data—identifying the types of rocks and minerals we found.
The breakthrough came on 26 March 1990, when the team discovered small gold flakes embedded in quartz veins during exploratory drilling at 13 points in the Khao Mo area, which later became known as Pit A of Chatree Gold Mine.”
To honor Chatree, Akara Resources named the mine “Chatree Gold Mine, which became the first gold mine for the company. To honor Chatree’s pivotal role, the mine was named “Chatree Gold Mine,” and it became the first gold mine for Akara Resources. The mine, located at the border between Phichit and Phetchabun provinces, remains a proud symbol of Mr. Chatree’s contribution to Thailand’s mining industry and Akara’s ongoing success.
Although Chatree and his team had discovered the first gold deposit in Thailand, starting the mining operation raised concerns for many people at that time. Surachat Munsamai, a colleague of Chatree, shared his perspective:
“Back then, it was quite difficult to explain to people the benefits of having a mine. Information was scarce at the time, unlike today, where you can easily search on the internet and see that mining has minimal impact. I remember Chatree once said to me, ‘One day, they will understand what we are doing for them.’ Today, what Chatree said has proven to be true…”
The Journey from Chatree Gold Mine to the Community: The Growth of the Mine Alongside Local Development
Chatree was not only the geologist who discovered the gold deposit that became Thailand’s world-class, safe, and sustainable gold mine, but he was also deeply committed to the “community.” He dedicated himself to building strong relationships and improving the quality of life for people in the surrounding areas alongside the mining operations.
“Chatree was the first to come to my grandmother. Whenever we mentioned something, he was always ready to help. He would offer assistance even if he didn’t know what was needed. He would consult with us. For example, regarding the water supply, he would say, ‘What’s wrong with it? I’ll send a technician to check it.’ We are very thankful to Chatree and his mother as well.” – Paeng and Somporn Chimplee, Grocery Shop Owners and Local Residents near Chatree Gold Mine.
“My father was the village head of Moo 9, and he knew Chatree. He told me there would be gold prospecting. There were no houses here back then, just rice fields. We are very grateful to Chatree for discovering this gold prospect, bringing global recognition to Thailand’s gold, and providing income and infrastructure development to our community.” – Siwakorn Chuaikhamchu, Motorcycle Repair Shop Owner and Local Resident near Chatree Gold Mine.
“In the past, my father worked at the mine, driving a large truck. I was the only one in the village to receive a scholarship from the mine at that time. Honestly, I didn’t think I would continue my education because I didn’t want to burden my parents with tuition fees. However, I was determined to support myself and shared with them that the mine had offered me a scholarship. I am truly grateful to Chatree for discovering this area and bringing development to our community. Personally, without the mine, I wouldn’t have had the same educational opportunities as others in society.” – Promphan Khunthong, Community Relations and Development Officer, a local resident near Chatree Gold Mine who benefited from educational and employment opportunities.
Akara: Continuing the Vision for Sustainability
We are proud to uphold Chatree’s vision by conducting gold mining operations responsibly. We focus on sustainable development across economic, social, environmental, and safety sectors, aiming to create lasting benefits for the nation and surrounding communities.
The Chatree Gold Mine represents gold mined from Thai soil, now a source of pride for the Thai people, thanks to the vision of Thai geologist, Chatree Chaichanapoonpol. His groundbreaking work has brought significant recognition to Thailand and serves as an inspiration in the field of Thai geology.
Thailand…The Land of Abundance Thailand is a nation rich in natural resources, fueling its economy and positioning the country on the global stage. From aromatic jasmine rice and mouthwatering fruits to high-quality rubber and precious “gold,” these treasures not only drive economic growth but also enhance the nation’s global reputation.
Among these resources, gold stands as a timeless symbol of prosperity. Today, the Chatree Gold Mine—a world-class gold mining operation—is poised to reclaim its position as a leader in the gold mining industry. With innovations, adherence to international standards, and a commitment to sustainability, Akara proudly contributes to Thailand’s economy and brings pride to all Thai people.
Discovering Akara’s Gold Mine Today… Facts You May Not Know
“Akara Resources Public Company Limited” is a Thai-owned gold mining company holding the mining leases for the Chatree Gold Mine, the largest world-class gold mine in Thailand, located on the border between Phichit and Phetchabun provinces.
With a steadfast commitment to responsible mining practices, Akara focuses on three key areas:
Economic Development: Generating jobs, supporting livelihoods, and boosting income for local communities and the national economy.
Community Care: Improving the quality of life through initiatives in education, healthcare, and sustainable community development.
Environmental Conservation: Employing world-class, eco-friendly technologies and innovations while rehabilitating land areas alongside mining operations.
Despite numerous challenges, Akara remains driven by its commitment to sustainable growth in harmony with the community and the nation.
“A new journey has begun.”
Today, Akara is back with renewed dedication. The operation will continue to uphold rigorous safety measures, adopt environmentally friendly innovations, and adhere to globally recognized standards that ensure sustainability and reliability over time.
The New Era of Akara Gold Mine… Moving Forward with Sustainability
The Chatree Gold Mine is making a comeback, leading the gold mining industry with “New Era Innovations” rooted in ESG principles.
Environmental: We integrate modern, environmentally friendly innovations and technologies to position ourselves as a global leader in sustainable gold mining. Key initiatives include:
Closed-system ensuring nothing is released to the outside.
An internationally-certified tailings storage facilities, to prevent seepage.
100% water recycling from the production process,
Eco-conscious blasting innovations, such as timed detonation delays to minimize noise and vibration, water injection before blasting to reduce dust, and land rehabilitation alongside mining.
Social: We are committed to creating shared value with local communities through various initiatives, including job creation, career development, educational support, health promotion, and training programs that enhance skills and provide greater employment opportunities.
Governance: We adhere to the highest governance standards, conducting our business with transparency, accountability, and responsibility towards all stakeholders.
In addition, we are pursuing another major goal: transforming Thailand into a ‘Gold Hub,’ positioning the country as a leading gold production center in Southeast Asia. This initiative is driven by the business collaboration between Akara Resources Public Company Limited, Precious Metal Refining Company Limited (PMR), and Ausiris Company Limited. Together, we form a seamless and high-quality gold production network spanning upstream (Akara-Smelting), midstream (PMR-Refining), and downstream (Ausiris-Fabricating) operations.
This effort aims to add ‘value’ to Thai gold and silver products and boost competitiveness by ensuring compliance with Free Trade Agreements (FTAs). This enables businesses to benefit from tariff reductions in destination countries by using gold and silver extracted and fabricated in Thailand, aligning with Local Content regulations. This initiative not only gives Thai businesses a competitive edge in international markets but also reduces reliance on imports and increases order volumes, particularly within ASEAN. Moreover, it aligns with the government’s economic policies, which prioritize free trade agreements to attract foreign investment to Thailand.
Akara Gold Mine: Driving Thailand’s Economy with a Positive Impact from Upstream to Downstream
With the reopening of the Akara Gold Mine, we are committed to upholding our reputation as one of the safest gold mining operators in the world while fostering sustainability. Our vision is to play a pivotal role in advancing Thailand’s economy across the entire value chain—from upstream to downstream—on a global scale, with a strong emphasis on quality and sustainability.
Our mission is to create a positive impact across multiple sectors, as outlined below:
Economic Impact
As Thailand’s only major gold producer, Akara plays a vital role in creating a significant economic impact that contributes to the sustainable growth of the Thai economy.
Huge Investment: The reopening of Akara Gold Mine comes with an investment exceeding 2.6 billion baht for the overhaul, repair, and development of machinery, metallurgical plants, and facilities, ensuring readiness to produce high-quality gold for the global market.
Stimulating the Circular Economy: Akara projects an annual economic circulation of over 4 billion baht through support for local businesses, procurement, and employment opportunities.
Positioning Thailand as the ASEAN “Gold Hub”: Akara is committed to driving Thailand to become the “Gold Trading Center” in the ASEAN, creating massive business opportunities and boosting national income.
How Mineral Royalties Benefit Thai Society
Mineral royalties play a vital role in returning profits to society and enhancing the quality of life for all Thai people. These royalties, a form of taxation on the use of natural resources, contribute significantly to the nation’s development.
At Akara, we are proud to support Thailand’s progress through the transparent and proper payment of mineral royalties. Since the beginning of our operations, Akara has paid over 4.5 billion baht in mineral royalties. After resuming operations in March 2023, we have already contributed more than 700 million baht to the Thai government. These funds are directly channeled into national and local development initiatives that benefit communities across the country.
How Mineral Royalties Are Allocated
40% to the Central Government: This portion of the mineral royalties is allocated to the central government, supporting various sectors of national development.
60% to Local Communities:
50% for Local Areas Near Akara Gold Mine: These funds focus on improving the quality of life for communities around the mine and promoting sustainable development.
10% for Local Administrative Organizations Nationwide: Distributed across local administrative organizations (Subdistricts) throughout Thailand, these funds help address regional needs and boost community welfare.
Social Impact: Creating Value, Opportunities, and Happiness
Above All Else… People Are the Heart of Akara.
At Akara, we firmly believe that business success must go hand in hand with social development and the improvement of the quality of life for local communities. Our commitment is centered around the well-being of people, as they are the foundation of everything we do.
Creating Jobs and Stimulating Local Economies – Akara provides employment to over 1,000 local residents, with more than 90% of our workforce coming from nearby communities. This employment helps drive the local economy, generate income, and uplift the standard of living. Beyond providing jobs, we are committed to fostering long-term self-sufficiency, empowering communities to thrive independently for years to come.
Enhancing Quality of Life – Our initiatives extend beyond traditional business operations to actively support programs that enhance the lives of local residents. These programs include:
Education: Life skills development and access to quality education.
Healthcare: Improved access to medical services and wellness programs.
Community Enrichment: Support for sports, religious activities, and cultural preservation.
By investing in these areas, we aim to strengthen the foundation of local development, paving the way for a sustainable and prosperous future.
Strengthening Families and Communities – One of Akara’s core commitments is to build strong, resilient families. By creating local opportunities, we help reduce the need for migration, allowing families to stay together and thrive in their communities. This focus on family unity contributes to a stronger social fabric and greater community stability.
Akara Gold Mine: A Thai Gold Mine Driving Sustainability Forward for Thailand
A new chapter has begun at Akara as the mine resumes operations, reaffirming our commitment to being “Thailand’s High-Quality Gold Mine with World-Class Sustainability and Safety.”
Our mission goes beyond gold production. We are dedicated to fostering sustainable economic, social, and environmental development, ensuring long-term benefits for Thailand and its people.
We are pleased to inform you that Akara Resources Public Company Limited is participating in the Green Industry project, aimed at promoting sustainable business practices. This initiative seeks to reduce the impact of climate change and environmental degradation while utilizing resources efficiently to support sustainable production and consumption. The Company is committed to conducting its business responsibly across the entire supply chain.
We are proud to announce that the company has been awarded the Green Industry Certification Level 1: Green Commitment from the Ministry of Industry. This certification signifies our dedication to minimize our environmental impact and this commitment is effectively communicated within our organization.
Our ‘Explorer Team’ is here! This time, Mr. Surachat Munsamai, a senior explorer at Akara 👷🏼♂️, will show us how the area is restored to its original condition after completing the exploration mission. You wouldn’t know this place had been drilled before if we didn’t tell you. 🔍
This world is big… there are many stories waiting for us to go out and ‘explore.’ 🌍
Akara Resources Public Company Limited donated rice, dried food, and essential medicines to the Phichit Provincial Industry Office. These supplies will be used to assemble survival bags for distribution to flood victims in northern Thailand.
Mr. Sompong Wangrungvichaisri, official from the Phichit Provincial Industry Office, received the donated goods from company representatives at the Phichit Provincial Industry Office. These items will be forwarded to the Phitsanulok Provincial Industry Office, which will serve as the central hub for preparing the survival bags. Once ready, the bags will be distributed to affected residents in the northern region.
Mr. Sompongstated that, in line with the Ministry of Industry’s “Industries Unite to Help Thai Citizens” initiative, the Permanent Secretary of the Ministry has directed all provincial industry offices to urgently procure and distribute food, essential goods, and other necessities to those impacted by the floods.
On this occasion, Mr. Thanachart Phathong, Assistant Manager of Government Relations at Akara Resources Public Company Limited, emphasized that the Company is deeply aware of the hardships faced by the affected communities. To alleviate their suffering, Akara provided water, dried food, and essential medicines to the Phichit Provincial Industry Office. After the survival bags are assembled and returned from the Phitsanulok Provincial Industry Office, Akara will collaborate with local agencies to deliver them directly to the flood victims.
Earlier, on 26 August 2024, Akara and its partners visited Wang Pong Kindergarten School in Wang Pong District, Phetchabun Province, to provide assistance to more than 600 teachers and students. The school had sustained significant damage to 15 classrooms and educational equipment due to severe flooding, forcing an eight-day closure. The damages were estimated at 2.5 million baht. Akara and its partners assisted in cleaning the damaged classrooms to ensure a swift return to normal operations.
On 30 May 2024, Akara Resources Public Company Limited led by Mr. Cherdsak Utha-aroon, General Manager – Sustainability, along with executives and employees, offered financial aid from the Village Development Fund and other resources to Wat Sattasila-at School in Khao Chet Luk Subdistrict, Thap Khlo District, Phichit Province. The storm had significantly damaged the school’s roof, forcing 69 students to relocate their studies to Sala Thammasangwet, near the temple’s crematorium.
Mrs. Sunan Phrawong, the School Director, expressed gratitude saying that “Our school suffered heavy damage, requiring 69 students to temporarily relocate. The support from Akara and the community is invaluable in restoring normalcy for our students.”
Initial damage estimates by Phichit Primary Educational Service Area 2 were over 200,000 baht. Akara and community partners have provided over 100,000 baht in emergency funds to expedite roof repairs.
Mr. Cherdsak emphasized, “We prioritize community participation and development, with 90% of our employees being local residents. When our community faces difficulties, we are committed to providing comprehensive support, because this is our home and we are one family.”
On 7 September 2023, Mr. Sumeth Prasongphongchai, Director of the Gem and Jewelry Institute of Thailand (GIT), presided over the grand opening ceremony and embarked on an insightful visit to the captivating “Thai Gold for Thais” partnership booth within the 68th Bangkok Gems and Jewelry Fair at the Queen Sirikit National Convention Center (QSNCC) under the collaboration orchestrated by three key players: Akara Resources Public Company Limited, Precious Metal Refining Company Limited, and Ausiris Company Limited, with the vision of “Thai Gold for Thais.” For the second consecutive year, this partnership booth is shining brightly with its vision of “Thai Gold for Thais,” with this year’s goal being to pass on the essence of “Thai Value” through Thai gold to the world’s eyes. Simultaneously, it is driving a significant transformation of the gold supply chain, bringing it closer to the ultimate aspiration of becoming a quintessential gold value chain. Together, these industry leaders have their sights set on ushering Thailand into a new era, establishing the country as the preeminent gold hub of Southeast Asia.
At the “Thai Gold for Thais” partnership booth, Mr. Cherdsak Utha-aroon, General Manager – Sustainability, Akara Resources Public Company Limited; M.L. Paramaporn Devakula, General Manager of Precious Metal Refining Company Limited; and Mr. Boonlert Siripatvanich, Chief Executive Officer of Ausiris Company Limited, had the pleasure of welcoming and accompanying the Director during his visit. This provided an opportunity for the executives to share their visions regarding their respective companies’ roles within the alliance and discuss the potential benefits that this collaboration holds, not only for their individual organizations, but also for Thailand as a whole.
Akara Resources Public Company Limited, Thailand’s largest gold mining operator with a clear ambition to lead gold production in Southeast Asia, is unwavering in its commitment to elevating operational standards. This dedication goes hand-in-hand with its desire for continuous collaboration with its fellow Thai companies in the gold industry, which forms the bedrock of the “Thai Gold for Thais” partnership. This innovative alliance seamlessly unifies the entire gold supply chain, fundamentally reshaping the industry. In this groundbreaking partnership, Akara confidently envisions the uninterrupted flow of “value” cascading through the chain — commencing with Akara, traversing through PMR, and culminating with Ausiris, each contributing to the mining, refinement, and craftsmanship of gold. However, this partnership is about more than just business; it is about creating employment opportunities, enhancing the quality of life, championing environmental preservation, all while safeguarding Thai culture through the journey of Thai gold. Ultimately, this collective endeavor will drive Thailand forward as the new epicenter of gold production in Southeast Asia. Akara, while excavating “Thai Gold,” is simultaneously delivering the “Value of Sustainability” to the Thai people, setting the stage for the other values to follow suit.
During the booth visit, Mr. Cherdsak Utha-aroon expressed Akara’s role in enhancing the quality of life and fostering community development around its mine within the framework of the “Thai Gold for Thais” partnership. He stated that, “Akara unearths ‘value’ from the ground. Value is created by us, so more added value may follow throughout the entire supply chain. We commenced commercial operations on 12 December 2001, and since then, on average we have produced more than 100,000 ounces of gold and 1,000,000 ounces of silver per year. So far, we have been accumulating over 23.6 million safe working hours under our belt, earning us a title of ‘one of the safest gold mines in the world.’ Meanwhile, we have contributed over THB 4,000 billion to the Thai economy by generating over 1,000 positions filled by Thai employees, with 90% of those being local residents from the communities surrounding our mine.
“Akara’s mission in these regards goes beyond these achievements. We have also taken the initiative to establish, maintain, and repair the entire water supply systems for 28 villages within a 5-kilometer radius of our mine. Our active engagement in reforestation efforts is also equally noteworthy. We are in relentless pursuit of a greener world, with a target of planting more than 1,000,000 trees by 2027. Additionally, since the start of our operations, we have disbursed over THB 4,600 million in royalties. Of this sum, 40% goes to the central government, 50% to the local administrative organizations in our mine’s vicinity, and the remaining 10% to other local administrative organizations nationwide. All of these endeavors exemplify Akara’s commitment to giving back to the Thai people, providing added value that paves the way for the other values down the gold supply chain, all with a sense of pride for all,” concluded the general manager – sustainability.
The dedicated commitment to placing “Thai people” at the core of its vision perfectly aligns with that of Precious Metal Refining Company Limited. As an internationally recognized precious metal processing and refinery company, PMR has consistently focused on raising the bar for metal processing and refinery, assuring consumers that its gold and silver can effectively meet the increasingly diverse demands of the market. This accomplishment is made possible by its rigorous processing and refining procedures that conform to global standards. Of particular note are the RJC Certification and GIT Standard — the very benchmarks that Akara and Ausiris sought when selecting a precious metal refining partner, prompting their decisions to join hands with PMR under the “Thai Gold for Thais” partnership. In this collaboration, PMR serves as the “conduit.” It receives gold from its partners in a variety of forms, including doré bars from the upstream and old jewelry pieces from the downstream, then meticulously processes and refines these materials into pure gold, ensuring strict compliance with the exacting standards set by each of the collaborating companies. This alliance significantly enhances Thai entrepreneurs’ and gold products’ competitiveness in both domestic and international markets. And it is thanks to the processing and refining of Thai gold by PMR that guarantees that the transfer of “Value of Excellency” is not only feasible, but also continuous and seamless, regardless of geographical and temporal boundaries.
M.L. Paramaporn Devakula conveyed PMR’s dedicated commitment to being a preferred partner in precious metal processing and refinery within the framework of the “Thai Gold for Thais” partnership. He emphasized, “Our strict adherence to RJC Certification and GIT Standard serves as a testament to PMR’s dedication to excellence in processing and refining precious metals. And we have entered into the ‘Thai Gold for Thais’ partnership to promote Thailand to a gold processing and refinery hub in Southeast Asia. And it is because of the high standards we uphold that Thai gold and silver products are now much more competitive on the global market, making them eligible for Free Trade Agreements (FTAs), which have a number of benefits.
“Notably, these advantages encompass reduced import taxes for destination countries, contingent upon providing proof of country of origin, demonstrating that the gold and silver are processed and refined in Thailand in accordance with international standards. This gives a distinct competitive edge to Thai entrepreneurs and gold and silver products in foreign markets, leading to an increase in orders, especially within ASEAN countries. Furthermore, this enhances cost transparency, ensuring that over 40% of the value of these products originates from resources within Thailand, primarily from Akara and PMR, which, in turn, provides a competitive advantage to manufacturers like Ausiris. All in all, these stringent standards and ensuing benefits instill confidence that the transmission of ‘value’ is feasible, continuous, and seamless, regardless of how far across borders or through time it may go, underpinning the enduring success of the partnership,” added the general manager.
Similarly, in the “Thai Gold for Thais” partnership, Ausiris Limited Company, a distinguished leader in the manufacturing and repurchase of gold bars and jewelry pieces, perceives an exceptional opportunity to proudly carry forward the legacy of Petchaburi goldsmiths, where it finds its roots. In this dynamic alliance, the gold itself stands for a harmonious brainchild conceived from the union of Akara’s mining, PMR’s refinery, and Ausiris’ workmanship, embodying a universal tapestry of values. As a result, giving customers this gold is more than just a business transaction; it is an immersive experience that transcends material value. Truly shining even at face value, it invites customers to delve deeper beyond meets the eye, to intimately connect with the spiritual essence of Thai goldsmithing. Most recently, Ausiris has unveiled the Gold Treasures collection, a selection of small gold bars with a purity of 99.99% and adorned with exquisite Thai motifs symbolizing Thailand’s heritage. From upstream to downstream, not only does this creation stimulate job creation and income distribution, but it also promotes the singular artistry of Thai goldsmiths. And with this concerted effort, the conventional “gold supply chain” will culminate in a “gold value chain.” As “Thai gold” continues to circulate throughout Thailand and extend beyond to the rest of the world, the enduring “Value of Craftsmanship” will ultimately continue to live on with — and within — the Thai people, returning to the roots of “Thai identity” and standing side by side with the other preceding two values for Thais, as exemplified by the name of this visionary partnership.
Mr. Boonlert Siripatvanich offered insights into the inception of the “Thai Gold for Thais” vision, its evolution into the present-day eponymous partnership, and Ausiris’ pivotal role in this collaboration. He clarified, “‘Thai Gold’ means gold that is mined, refined, and crafted by Thais. ‘For Thais’ on the one hand means carrying profound economic implications benefitting Thais, be it job creation, income generation, or craftsmanship promotion among our fellow Thais. On the other hand, it means extending opportunities for Thais to support and, in turn, take pride in Thai gold products by Thais for Thais.
“Most importantly, ‘Thai Gold’ doesn’t exclusively belong to Thai people, nor is it limited to a particular generation. Its enduring value and pride associated with it can be passed on through generations, whether through the purchase of gold bars or jewelry pieces or the recycling of old jewelry pieces, transforming them into pure gold before reshaping them into new forms. And this ‘Thai Gold for Thais’ partnership contributes to ensuring the perpetual, seamless handing down of these values, transcending geographical borders and generational boundaries. This concerted effort will ultimately cultivate a shared sense of ‘Thai Pride’ — gilded and glistening as gold, poised to show before the world’s eyes. At the same time, it will propel Thailand toward a prominent position as a gold production and trade hub within Southeast Asia,” concluded the chief executive officer. In this transformative “Thai Gold for Thais” partnership, gold will be produced by Akara in the form of dore bars. These bars will subsequently be sent to PMR, where they will be processed and refined into gold bullions, following internationally recognized sustainability and social responsibility standards. The refined bullions are then passed on to Ausiris to be further crafted into exquisite gold bars and jewelry pieces. This intricate process signifies the seamless transfer of enduring values — sustainability, excellence, and craftsmanship — throughout the entire supply chain. These coordinated efforts yield significant benefits for the Thai people. Employment opportunities are created, quality of life enhanced, and cultural identity preserved through Thai gold — proudly by Thais for Thais. Moreover, this partnership also extends an invitation to the Thai people to actively support products that embody these three cherished values — ones that resonate with people worldwide in search of gold. This collaboration represents a synergy of global values, a journey that elevates the gold supply chain to the pinnacle of a gold value chain. And this chain passes on these precious values seamlessly across borders and through generations, circulating throughout Thailand and subsequently extending beyond, ultimately raising Thailand’s potential as a comprehensive gold hub in Southeast Asia.
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