PanAust Limited’s Ban Houayxai Gold-Silver Operation Certified Under International Cyanide Management Code

The International Cyanide Management Institute (ICMI) announced today that PanAust Limited’s Ban Houayxai Gold-Silver Operation (BHX), in the Lao People’s Democratic Republic, has been pre-operationally certified in compliance with the International Cyanide Management Code (Code).

ICMI has received and accepted an audit report prepared by an independent professional third-party auditor who evaluated BHX against ICMI’s Pre-operational Verification Protocol, which found it in full compliance with the Code’s Principles and Standards of Practice. BHX has not yet started production operations, and the audit findings are based on the company’s draft plans and procedures and its written commitments to manage cyanide responsibly and in a manner consistent with the Code once the mine is operational. The certification of BHX is conditional, and requires that a follow-up audit be conducted within one year of the mine’s first receipt of cyanide to confirm that its design, construction and operation comply with the Code. The operation must be re-audited every three years thereafter to evaluate continuing compliance with the Code. A summary of the audit report is available on PanAust’s Signatory Companies Page on the ICMI web site: http://cyanidecode.org/signatory_panaustralia.php.

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:
Wednesday, January 18, 2012

Date:
Wednesday, January 18, 2012