Minister assures villagers ASEAN potash mine safe

CHAIYAPHUM, THAILAND, March 7 (TNA) - Industry Minister Chakramon Phasukvanich assures villagers living in Chaiyaphum Province in the Thai Northeast that an underground potash mine of most member countries of the Association of Southeast Asian Nations (ASEAN) will be safe for people. Chakramon acknowledged on Friday that the ASEAN potash mine, once its construction is completed, will be Thailand’s first underground mine. According to the minister, ASEAN Potash Mining Public Company Limited has received the green light from the Thai Ministry of Industry to start the underground mine construction in Chaiyaphum’s Bamnet Narong District. The minister explained that the project is under an agreement of ASEAN economic ministers in 1989 and will be jointly invested by six ASEAN member countries, including Malaysia, Indonesia, the Philippines, Singapore, Brunei and Thailand, with the Thai government, through the Ministry of Finance, to hold a 20 per cent stake out of the total shares. Covering a 9,700-rai plot of land (2.5 rais=1 acre), the ASEAN mine is believed to have 430 million tonnes of potash in reserves, its annual production is 1.1 million tonnes and total production should take about 25 years, while its total investment fund is projected at 40 billion baht. The production of potash fertiliser should start in 2019 and it was shown during a trial operation that the mine should not have any impact on the environment. Apart from creating new jobs from the project, Thailand should also save about 10 billion baht a year from importing about 700,000 tonnes of potash fertiliser after the project, run by ASEAN Potash Mining Public Company Limited, comes into operation. Besides, the Thai government should collect 20–30 per cent in corporate tax and seven per cent in royalty from the ASEAN joint venture. (TNA)