To ensure the optimal structure for a rapidly growing and geographically diverse business, PanAust is structured into three business units: Asia, South America, and Project Development. 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.
Asia business unit
The Asia business unit has responsibility for existing operations in Laos and supporting the implementation of business development strategies within the region.
PanAust owns a 90 per cent interest in the Lao-registered Company, Phu Bia Mining Limited (Phu Bia Mining). In August 2012, PanAust signed an agreement which completed the transfer of 10 per cent ownership of Phu Bia Mining to the Government of Laos.
Phu Bia Mining has a Mineral Exploration and Production Agreement with the Government of Laos. This agreement regulates exploration, development and mining activities within the Contract Area, and sets out the tax and royalty obligations.
In Thailand, PanAust holds 49 per cent of the Thai-registered company, Puthep Company Limited (‘Puthep’). The remaining 51 per cent interest is owned by Padaeng Industry Public Company Limited, a publicly listed Thai entity. Puthep has a concession agreement with the Government of Thailand that covers two deposits (PUT1 and PUT2) comprising the Puthep Copper Project.
PanAust has commenced a trade sale process for the Puthep Copper Project on behalf of the joint venture. From PanAust's perspective, the Project does not rank as highly as other growth opportunities the Company has in its pre-development portfolio.
South America business unit
The South America business unit supports the studies, field programs and community affairs for the Carmen deposit and the Inca de Oro Copper-Gold Project in Chile.
PanAust owns a 100 per cent interest in the Carmen deposit and a 60.45 per cent beneficial interest in the Inca de Oro deposit through a Chilean incorporated joint venture company, Inca de Oro S.A.; Codelco has a 34 per cent interest in Inca de Oro S.A. while an independent private company holds a 5.55 per cent beneficial interest.
Project Development business unit
The Project Development business unit is responsible for the Company’s development and operational improvement projects. It comprises teams responsible for technical studies and project implementation to deliver capital-efficient project development and strategic improvement initiatives to support and enable the Company’s growth.