Vientiane (VNA) – Laos is taking a significant step toward building an independent and self-reliant economy with the inauguration of the Laos-International Precious Metals Refinery (LIPMER) in Vientiane, marking its entry into the global gold industry and market, and strengthening its economic foundations.
The refinery is the result of cooperation between the Lao Government and PTL Holding Co., Ltd., and is seen as a milestone in the country’s strategy to enhance macroeconomic stability and reduce reliance on external markets.
Addressing the recent launch ceremony, Lao Minister of Industry and Commerce Malaythong Kommasit stressed that strengthening macroeconomic resilience remains a top priority for the Lao government. He described the refinery as a “core infrastructure” that will operate in tandem with the Lao Bullion Bank in a unified ecosystem.
The facility is expected to support national gold reserves, positioning gold as a key collateral asset to stabilise the Lao kip, improve liquidity, mobilise capital and shield the economy from global economic volatility, he said.
The project sends a strong message about Laos’ readiness to become an important player in the global gold industry and market, Kommasit stressed, adding that by applying advanced technologies and modern refining processes, the refinery will upgrade the quality of Lao gold to internationally recognised standards, enabling it to compete globally.
Chanthon Sitthixay, founder and chairman of PTL Holding, described the project as a breakthrough and a significant commitment to advancing Laos’ national socio-economic development plan. He noted that having an internationally standardised refinery will help modernise the Southeast Asian country’s mining sector, particularly the gold industry, which benefits from abundant natural resources.
For decades, Laos has largely exported raw gold ore, missing out on significant economic opportunities and benefits. The LIPMER is expected to enable the country to process gold ore sourced both domestically and internationally, helping overcome longstanding challenges in the mining sector, particularly in gold, while maximising efficiency and returns.
The facility is expected to support the sector’s transformation into a spearhead economic sector by leveraging national strengths, enhancing competitiveness, and improving the quality of Lao gold.
With a designed capacity of 150 tonnes of gold per year, the facility can produce gold with a purity of up to 99.999%, meeting globally accepted standards and facilitating participation in international markets. Equipped with modern laboratories and automated systems, the plant ensures high precision, operational safety and environmentally friendly production.
As the first and only gold refinery in Laos to meet international standards, LIPMER is expected to elevate the country’s gold industry, generate higher value-added output and contribute to building an independent and self-reliant economy./.
Laos moves to realise railway connection with Vietnam
As a strategic project backed by both governments and listed as a priority in bilateral cooperation, the Laos–Vietnam railway has a planned total length of around 562 km.
