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History
   
 

The Company was the brainchild of Captain Edward T. Miles of Australia who felt he could develop equipment to mechanize the offshore mining industry, after observing the labor intensive methods of the Chinese at Phuket in 1905.

In 1906, he founded the “Tongkah Harbour Tin Dredging Company N.L”, incorporated it in Hobart Tasmania and, upon due arrangements with the local Governor, began offshore tin mining in Phuket Bay in 1907, utilizing the world’s first sea-going bucket dredge.

Following 1907, the Company put seven more dredges into mining operations in the Phuket area. The British firm, the “London Tin Group” (managed by Anglo Oriental), eventually gained control and transferred the Company’s domicile to Malaysia and renamed it “Tongkah Harbour Tin Dredging Ltd” which was later officially named “Tongkah Harbour Tin Dredging Berhad”. The London Tin Group was subsequently taken over by the Malaysian Mining Corporation (MMC).

     
1980: Shareholding was restructured to become predominantly Thai in response to the Thai government’s policy of encouraging domestic investment in the mining industry. On being registered in Thailand, the Company was renamed “Tongkah Harbour Ltd.”

1990: With the collapse of the tin market in the mid 80’s, the Company diversified into gold and base metal exploration in 1990, and property development in Bangkok where it undertook the construction of “Tongkah Tower”, now known as the “True Tower”.

1991: The Company’s subsidiary, Tungkum Limited (TKL), was founded and granted a concession in Loei province for the exploration and mining of gold and related minerals.
     
1993: The Company went public and started trading of shares in the Stock Exchange of Thailand (SET). The Company was again renamed as “Tongkah Harbour Public Company Limited”.

1995: Pursuant to successful exploration, TKL submitted mining plans and six gold mining license applications to the Department of Mineral Resources, which approved the plans in late 1996.

Post 1997: The Company emerged from the financial crisis of 1997 with no foreign exchange exposure and no debts, and in a strong cash position. However, the SET ruled that the Company’s earnings from tin operations (considered by the SET to be the Company’s core business) were disproportionately lower than its other revenue and, accordingly, suspended (but later reinstated) from trading on the SET.

2003: The Ministry of Industry granted Tungkum Limited the gold mining license whereupon the Company could initiate the mine development process.
     
2004: The Company added to its land bank in Phuket by acquiring land which joined together two parcels already held. With this acquisition, the Company now holds some 39,745 sq m of continuous beach front property in a prime location for future development.

2005: The Company accumulated 83.7 % of Sea Minerals Limited (SML) which has subsequently filed mining leases over 50,000 rai (8,000 hectares) to mine an off-shore deposit in the Andaman Sea where evaluations based on some 1200 drill holes indicate resources of over 50,000 tons of tin in the area.

2006: A loan for USD 25 million was approved by Deutsche Bank. Part of the loan was utilized to refinance the local consortium banks. The remaining loans will be utilized for the further plant expansion and proving of reserves. During the final quarter of the year, TKL commenced production of gold.

   

2007: The Company controls 99.99% of SML which has proven reserves of some 60,000 tons of tin ore (72% Sn) at a cut off grade of 0.10kg/cubic meter

2008: A loan of USD 35 million was approved by Deutsche Bank. Part of the loan was utilized to repay the earlier loan while the balance is being used to finance current and planned expansions. Current gold production stands at 3000-4000 plus ounces every month.

2009: Currently, the Company is focused on flotation plant construction at its Loei gold mining operation and commissioning the facility for full operation and production. Meanwhile, exploration for more ore in the concession area is ongoing with recent drilling at Target T-1 indicating increases in sulfide ore resources. THL will also be pursuing licensing for its offshore tin ore resources in the Andaman Sea, and will be monitoring development prospects for its landbank holdings in Bangkok and Phuket. The company will also continue to monitor and following upon, any exploration and development prospects in Thailand and neighboring countries.