Reference
·Primary source
Civil Court / ICSID Chatree compensation award
AUD 30M (settlement 2023)
Kingsgate Consolidated (ASX:KCN) and the Royal Thai Government reached a settlement in 2023 ending the long-running ICSID (International Centre for Settlement of Investment Disputes) arbitration over the 2017 forced closure of the Chatree gold mine. The settlement permitted the resumption of Chatree production (which restarted in March 2023) and included an Australian dollar 30 million headline payment plus the renewal of mining licences. Kingsgate's full claim had sought materially more (estimates ranged USD 750M-USD 1B in some media coverage); the eventual settlement was substantially smaller in cash terms but recovered the operating asset, which is now the larger value driver.
Figure in context
Kingsgate Consolidated (ASX:KCN) and the Royal Thai Government reached a settlement in 2023 ending the long-running ICSID (International Centre for Settlement of Investment Disputes) arbitration over the 2017 forced closure of the Chatree gold mine. The settlement permitted the resumption of Chatree production (which restarted in March 2023) and included an Australian dollar 30 million headline payment plus the renewal of mining licences. Kingsgate's full claim had sought materially more (estimates ranged USD 750M-USD 1B in some media coverage); the eventual settlement was substantially smaller in cash terms but recovered the operating asset, which is now the larger value driver.
Kingsgate Consolidated (ASX:KCN) and the Royal Thai Government reached a settlement in 2023 ending the long-running ICSID (International Centre for Settlement of Investment Disputes) arbitration over the 2017 forced closure of the Chatree gold mine. The settlement permitted the resumption of Chatree production (which restarted in March 2023) and included an Australian dollar 30 million headline payment plus the renewal of mining licences. Kingsgate's full claim had sought materially more (estimates ranged USD 750M-USD 1B in some media coverage); the eventual settlement was substantially smaller in cash terms but recovered the operating asset, which is now the larger value driver.
Time scope
2023 settlement (ICSID and Thai Administrative Court)
Source basis
Primary source
Interpretation notes
What this tells you
Kingsgate Consolidated (ASX:KCN) and the Royal Thai Government reached a settlement in 2023 ending the long-running ICSID (International Centre for Settlement of Investment Disputes) arbitration over the 2017 forced closure of the Chatree gold mine. The settlement permitted the resumption of Chatree production (which restarted in March 2023) and included an Australian dollar 30 million headline payment plus the renewal of mining licences. Kingsgate's full claim had sought materially more (estimates ranged USD 750M-USD 1B in some media coverage); the eventual settlement was substantially smaller in cash terms but recovered the operating asset, which is now the larger value driver.
What not to do with it
Headline cash component reflects Kingsgate's disclosure. The settlement's true economic value is dominated by the restored Chatree operating asset (now producing 120-140 koz Au per year) rather than the cash leg.
Related figures
Adjacent numbers that add context without drowning the value.
Thailand Gypsum Production Volume
Department of Primary Industries and Mines, Thai Mining Industry Association
Thailand Cement-Grade Limestone Output
DPIM, SCG Annual Report, TPI Polene Annual Report
Mining Royalty Rate — Industrial Minerals
Minerals Act B.E. 2560, DPIM Ministerial Notifications, Revenue Department
Thailand Potash Proven Reserves
DPIM, ASEAN Potash Mining, academic surveys
TPI Polene Mining Concession Area
TPI Polene Annual Report, SET filings, DPIM concession registry
Thai mining and quarrying sector revenue (2020-2024)
Department of Primary Industries and Mines, NESDC National Accounts, USGS Mineral Yearbook
Report context
Atlas actors in this figure's reports
Profiles covered in the report that cite this number.