Australian miner pockets $58 million under political risk policy
Posted On: Mar. 19, 2019 7:03 AM CSTAustralia-based miner Kingsgate Consolidated Ltd. received insurance $82 million Australia ($58.5 million) in payouts under its political risk policy after Thailand ordered the company to prematurely close its Chatree gold mine, Stockhead reported. Ross Smyth-Kirk, chairman of Kingsgate, said that the firm was fighting the Thai government and its insurers for compensation and the settlement with Zurich Australian Insurance Ltd. solves Kingsgate's money problems.