Besra had invested more than $115 million in Bong Mieu and Phuoc Son (Besra Viet Nam) in the Quang Nam Province.— Photo Besra

QUANG NAM (Biz Hub) — Besra's licence to export gold from Viet Nam has been renewed, a source from the company told Biz Hub on Friday.

The licence, issued by the State Bank of Viet Nam, permits the company to export gold extracted from its mining operations in the central province of Quang Nam.

Besra's CEO John Seton said, "We have reached agreements or have resolved almost all issues. The decision on retrospective export tax assessment is expected to be resolved in Besra's favour in the next month."

"We are grateful for the ongoing support of the Government of Viet Nam for Besra and its current and future operations," Seton added.

Last year, Phuoc Son Gold Company Ltd., a subsidiary of Besra Gold Inc., which is a Canadian-Australian joint-venture corporation, owed approximately US$19 million to contractors, the bank and the government.

The company had invested more than $115 million in Bong Mieu and Phuoc Son (Besra Viet Nam) in the Quang Nam Province.

Besra Viet Nam's gold production from its two plants was 60,187 ounces last year. — VNS