reports Cabinet decision to float zince metal price
Padaeng Industry Plc (PDI) reported a Cabinet decision dated June 27,
1995 for the Industry Ministry's Mineral Resources Department to amend a
contract concerning the mining and the construction of zinc smelting
plant of PDI to the effect that the selling price of the zinc metal from
the plant will not longer be controlled and allowed to float in
accordance with market mechanism.
According to the original contract, the price of zinc metal is fixed
at the market price at London Metal Exchange (LME) plus all expenses from
the warehouse in Europe to Bangkok Port minus 3% percentage points.
The Cabinet's decision was made as result of the adjustment of PDI's
production process to the effect that the company replaced mineral ores
from the Mae Sod mining ground with imported sulphide ores as the raw
materials for the zinc metal production. The mineral ores at Mae Sod
mining site has already been depleted up.
Translated by The Nation