Laos’ mining sector receives a boost with an announcement by Pan Australian Resources that it is ready to start producing gold from its Phou Bia mine in March, aiming to export between 50,000 - 70,000 oz. annually, with an expected annual revenue of $14 million over the next ten years. Meanwhile, the value of the Lao currency has strengthened against the U.S. dollar, up from 10,800 kip per dollar in November of 2004 to the current exchangerate of 10,360 kip per dollar. But the kip has weakened against the Thai Baht.
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