Shuttered gold mine shows investor risks from Thai power grab

Bangkok

WHEN Thailand's junta leader-turned-prime minister used his absolute power to suspend gold mining - prompting an Australian miner's shares to plummet 19 per cent in a single day - he complicated efforts to attract foreign investors already spooked by military rule.

Prime Minister Prayuth Chan-ocha announced the order last week, saying that gold mining will be suspended from the start of the year in a bid to address health and environmental concerns. By issuing the order under Article 44 of the constitution enacted when his junta toppled the elected government in 2014, Gen Prayuth ensured it was "lawful, constitutional and final".