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Thailand Gold Rush - get your pans ready
Anyone who considers prospecting for gold a good idea during the economic
downturn will be pleased to hear that the Thailand government will finalize
its gold mining policy in May this year - a move that could spark a new gold
rush.
Panning for gold in Thailand.
Gold mining surveys were put on hold following a
complaint by the Human Rights Commission in December 2007 concerning their
effects on the environment. The cabinet at that time ordered the policy to
be revised to take into account impact on the environment and people’s
health. This revision has now been completed - paving the way for gold
prospectors in Thailand.
Here’s a short guide to gold panning in four easy steps:
1. Find a stream or some other type of running water
where you can see some gold mixed with sand and silt.
2. Take some of the sediment from the bottom of the
stream and scoop it into the pan with some water.
3. Swirl the sediment and water in a gentle circular
motion around the bottom of the pan. At the same time tilt the pan so some
of the water and sediment spill out. When most of the sediment has fallen
out you’ll see your gold nuggets at the bottom of the pan.
4. Go down to the bank with your gold and exchange for
cash!
Before you reach for your gold pan and start swirling you
will need to obtain a permit from the Thai government for your prospecting
and you’ll also have to pay a percentage of your earnings into a fund
established by the Thai government to look after the environment. That said,
gold is currently riding high at 1,135 USD per oz so all the effort could be
worth it!
(PR Log/Phuket Ocean Villas Press Release)
Car, auto parts exports
expected to jump
12% this year
Vimolrat Singnikorn
Exports of automobiles and automotive parts are expected to
increase 12 percent year-on-year as international investors continue to pour
money into Thai manufacturing operations, the director of the Industrial
Promotion Center in Chonburi told a Manufacturing Expo 2010 seminar audience.
Kitipan Panithaporn, director of the Industrial Promotion
Center in Chonburi.
Kitipan Panithaporn told the April 22 gathering at the
Eastern Grand Palace Hotel in Chonburi that with markets in Asia, Australia and
the Middle East now recovering, more companies are looking to Thailand to set up
or invest in car-manufacturing plants.
He warned, however, that those looking to get into Thai
market to realize they’re not alone and to make considerations for increased
competition.
Somsal Limbanyen, director of the Promotion Investment Office’s Investment
Administrative Office 2.
Somsal Limbanyen, director of the Promotion Investment
Office’s Investment Administrative Office 2, said Thai industrial automotive
exports last year totaled more than 516 billion baht and should grow this year.
Thailand, he noted, ranks 14th in the world in automotive industrial production
and exports to more than 100 countries.
“State and private agencies should cooperate to promote Thai
industrial development as our aim is to be in the Top 10 for exports of autos
and parts,” he said.
GDP growth to drop by 1%
if political crisis drags on,
says banker
Thailand’s gross domestic product (GDP) will shrink by 1
percent if the current political crisis drags on, according to a top banker.
Boontuck Wangcharoen, chief executive officer of TMB Bank (formerly the Thai
Military Bank), said the ongoing rally by the anti-government United Front
for Democracy Against Dictatorship (UDD) at the downtown Ratchaprasong
intersection had little impact on its loan portfolio because the number of
bank clients operating businesses in the area is rather small.
Even so, the bank is ready to help its clients affected
by the rally by extending the loan repayment period as it deems appropriate.
He said the anti-government protesters should adhere to a
peaceful means for organizing any activities. Their rallies should not
infringe other people’s basic rights.
Should the rallies turn violent frequently, it would
shake confidence among foreign investors and tourists. If they were
prolonged, the country’s GDP growth would drop by 1 percent.
So TMB chief Boontak said he wants all conflicting
parties to seek a way out through negotiation. (TNA)
Thailand’s tourism industry losses reach US$150 million
Due to the protracted protests of the anti-government red
shirts, Thailand in April has already lost over 100,000 tourist visitors and
around more than Bt5 billion (US$156 million) in revenues, according to Tourism
Authority of Thailand (TAT) estimates.
According to TAT Governor Surapol Sawetseranee, if the
demonstrations continue, even peacefully but with political impact, Thailand’s
tourist income in the third quarter will entirely vanish and the country will
have to hope for a recovery in the final quarter, which is normally the
country’s high season for tourism.
Surapol said the current red shirt protest of over 50 days in
the capital has seriously damaged country’s tourism industry, particularly in
April.
He cited TAT statistics from a survey on tourist arrivals at
Suvarnabhumi International Airport, noting that around 680,000 tourists entered
the country in April, causing the “Land of Smiles” to lose the opportunity to
generate revenues of more than Bt5 billion a 21 percent drop from the 860,000
travelers coming to Thailand in the same period of 2008.
In March and April, Surapol said there were about 1.3 million
visitors entering Thailand. However, if compared to 2008, the tourist figure
dropped around 4.6 percent, counting as lost revenue of around Bt2.5 billion. He
added the reason why tourists still chose Thailand as their destination in March
was because the political situation then was not as serious as it had become in
April.
The TAT governor said as the demonstrations continue, the
Tourism Authority can neither map out a strategic plan to deal with effects from
the ongoing protests nor estimate the amount of financial losses. (TNA)
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