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Thailand to shut largest gold mine on environment concerns

Bloomberg News | May 13, 2016 | 3:47 pm Precious Metals Asia Gold 
Image of Chatree mine courtesy Akara Resources.

Thailand will shutter its largest gold mine by the end of the year after the government said concern the project was damaging the environment and sickening workers outweighed its economic benefit.

ingsgate Consolidated Ltd., the Australian producer which operates the Chatree mine through its Akara Resources Pcl unit, halted its shares Wednesday in Sydney and said it’s seeking clarification of the situation. Kingsgate got 62 percent of full-year revenue from the operation in fiscal 2015, according to data compiled by Bloomberg.

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