BANGKOK, Thailand – The Thai government has confirmed that Kingsgate Consolidated Limited has voluntarily withdrawn its international arbitration claim over the Akara gold mine, bringing an eight-year dispute to a close with no compensation payable by Thailand, Feb 18.
Ms. Lalida Prertwiwattana, Deputy Government Spokesperson, said the Cabinet was informed of the resolution of the dispute between the Kingdom of Thailand and Kingsgate under the Thailand–Australia Free Trade Agreement (TAFTA). The withdrawal was unconditional, and the arbitration tribunal has formally terminated the proceedings.
She said the Cabinet received a report from Industry Minister Thanakorn Wangboonkongchana confirming that Kingsgate had withdrawn all claims without any conditions attached. As a result, the long-running dispute — which began in 2017 — has officially ended, and Thailand will not be required to pay any damages previously sought by the company.
According to the Ministry of Industry, the outcome was achieved through proactive and coordinated efforts by Thailand’s dispute resolution task force. The strategy combined full legal preparedness for arbitration proceedings with parallel goodwill negotiations grounded in legal principles, while maintaining a firm stance that Thailand must not bear any undue financial burden.
The government said the successful resolution underscores Thailand’s capacity to manage international disputes carefully and transparently, with public interest at the center. Authorities emphasized that environmental protection, public health, and economic stability were key considerations throughout the process.
“The government affirms that this resolution is the result of unified efforts by all relevant agencies and represents the greatest benefit to the nation, the public, and Thailand’s image on the international stage,” Ms. Lalida said. (TNA)
