Pan Asia Metals (ASX:PAM) reports that the Cabinet of the Government of Thailand has approved the Mineral Management Master Plan No.2 (MMMP2) allowing for designated mining zones across much of the Reung Kiet Lithium Project in Thailand.
The MMMP2 remains in effect until 31 December 2027 and is part of a broader Mineral Management Strategy planned out until 2037.
Pan Asia reports the provision contained in MMMP2 allows the National Mineral Management Policy Commission (NMMPC) to designate mining zones, which has resulted in mining zones being declared across the company’s project and mineralised trends.
The company’s share price rose almost 11% as of 1pm to $0.305 on the back of the announcement.
Additionally, the declaration of these mining zones now allows Pan Asia the legal right to submit mining lease applications (MLAs) and to conduct all activities relevant to establish a mining business on its tenements, which make up the project.
MMMP2 has also expanded to include investment promotion and facilitate mechanisms and policies for mineral exploration, resource extraction, and related downstream industries.
While Pan Asia is preparing the MLAs, the company has been conducting baseline environmental studies at Reung Kiet to assess local air quality, surface and groundwater water quality, noise monitoring, and community related health monitoring.
At the same time, the company has also been conducting community information programs in association with its ongoing community support programs which focuses on health, well-being, education, and sports.
Additionally, MMMP2 also aims to educate the public to increase its knowledge and understanding of the MMMP.
The Reung Kiet Lithium Project is a lepidolite-style lithium project, located 70km north-east of Phuket in the Phang Nga Province in southern Thailand. Pan Asia holds a 100% interest in 3 contiguous special prospecting licences (SPL) and 1 exclusive prospecting licence (EPL) covering 40km-square.
Pan Asia Metals is a battery and critical metals explorer and developer, focused on the identification and development of projects in Asia and elsewhere that have potential to position the company to produce metal compounds and other value-added products that are in high demand.
Images: Pan Asia Metals Ltd
