PanAust Limited Submits Amended Signatory Application

The International Cyanide Management Institute (ICMI) announced today that Australian signatory mining company PanAust Limited has submitted an amended signatory application withdrawing its designation of the Phu Bia Gold Mine for certification under the Code, and designating its Ban Houayxai Gold Mine for certification. Both mines are located in the Laos People’s Democratic Republic.

PanAust notified ICMI prior to the May 3, 2009 deadline for a certification audit of its Phu Bia Gold Mine that it no longer intended to certify this operation due to declining ore reserves and the resulting limited life of the mine. Simultaneously, PanAust designated its Ban Houayxai Gold Mine for certification. The Ban Houayxai Gold Mine is currently in the design stage, with a feasibility study anticipated for completion by the end this year. PanAust expects the first production from the mine in 2011.

The Code is a voluntary industry program for companies involved in the production of gold using cyanide and companies producing and transporting this cyanide. It was developed under the aegis of the United Nations Environment Programme by a multi-stakeholder Steering Committee. The Code is intended to complement an operation’s existing obligation to comply with the applicable laws and regulations of the political jurisdictions in which the operation is located.

ICMI has been established to administer the Code, promote its adoption, evaluate its implementation, and manage the certification process. A detailed list of the operations covered by signatory companies’ applications, along with the full text of the Code and its implementing and administrative documents, are available at www.cyanidecode.org.
Date:
Monday, June 1, 2009

Date:
Monday, June 1, 2009