Sepon mine makes dividend payment

Sepon mine makes dividend payment

MMG LXML Sepon, the copper and gold mine in Savannakhet province, has made dividend payments to the Lao government totalling US$28.5 million in respect of 2012 earnings.

Tax and royalty payments for 2012 will be made in March. After further royalty payments are made later in the year, total direct revenue paid to Laos from the mine will reach US$1 billion.

The 2012 dividend was paid in two instalments. A handover ceremony for the final instalment of US$15 million was held on March 4 at the Ministry of Finance in Vientiane.

The Lao government is a 10 percent shareholder of Lane Xang Minerals Limited, which operates the Sepon mine.

The year 2012 was a record year for copper production at MMG LXML Sepon, with 86,295 tonnes produced, an increase of 9 percent over 2011

vientiane times