CORPORATE STRUCTURE

Company Structure
To ensure the optimal structure for a rapidly growing and geographically diverse business, PanAust is structured into three business units: PanAust Asia, PanAust South America, and PanAusts Projects. PanAust’s corporate office in Brisbane provides leadership and support across the Group in relation to growth, financial management, commercial and technical services, risk management, corporate communication, human resources, and governance and public reporting.

PanAust Asia

PanAust Asia has responsibility for existing and new operations in Laos, Thailand and other regions in Asia.

Laos
PanAust owns a 90 per cent interest in the Lao-registered Company, Phu Bia Mining Limited (Phu Bia Mining) through the Company’s wholly owned subsidiary, Pan Mekong Exploration Limited.

Phu Bia Mining has a Mineral Exploration and Production Agreement with the Government of Laos. This agreement regulates the taxation and royalty regime as well as the Company’s exploration, development and mining activities within the Phu Bia Contract Area in Laos.

In 2007, the Government of Laos notified Phu Bia Mining that it intended to exercise its option to acquire a 10 per cent interest in Phu Bia Mining. The Shareholder Agreement and Articles of Association for the Government of Laos to take up its 10 per cent share in the Company were signed in Vientiane, Laos, on Friday 6 May 2011.

Thailand
The Puthep Copper Project is held by the Thai-registered Puthep Company Limited. The Project is a joint venture between PanAust and Padaeng Industry Public Company Limited. PanAust has a shareholding interest of 49 per cent. The Company will earn a 51 per cent interest by completing a feasibility study and has options to further increase its interest to a total of 60 to 70 per cent. Under the Thailand-Australia Free Trade Agreement, the Company can acquire a 60 per cent interest in Puthep, with Thai Government approval needed to acquire 70 per cent. The Government of Thailand has the right to acquire a 10 per cent interest.

The joint venture is undertaking a strategic review of the Project including the potential for selling the asset. From PanAust's perspective, the Project does not rank as highly as other growth opportunities the Company has in its pre-development portfolio.

PanAust South America

PanAust South America is responsible for development of the Inca de Oro Copper-Gold Project in Chile and growing the PanAust business in the region.

Chile
PanAust holds a 59.4 per cent beneficial interest in Inca de Oro S.A., which owns the Inca de Oro Copper-Gold Project. PanAust’s interest is held through its 90 per cent interest in PanAust Minera, which holds a 66 per cent stake in Inca de Oro S.A. Codelco holds the remaining 34 per cent. 

PanAust Projects

PanAust Projects is responsible for the Company’s development and operational improvement projects. It comprises two teams: Technical Studies and Project Implementation who, together, deliver capital- and time-efficient integrated project development and strategic improvement initiatives.