The Tongkah Harbour organization has been in mining for 105 years beginning with offshore tin mining in and around Phuket Bay in 1906.
The Company was the brainchild of Captain Edward T. Miles of Australia who, upon observing the labor intensive methods of Chinese in offshore
mining at Phuket in 1905, felt that he could develop equipment to mechanize the industry.
Captain Miles founded the “Tongkah Harbour Tin Dredging Company N.L” incorporated 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. In the following decades up to the present, the Company experienced a successful and eventful history with some highlights as follows:
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).
shareholding was restructured becoming predominantly Thai in response to the Thai government’s policy of encouraging domestic investment in the mining industry. Upon registration in Thailand, the Company was renamed “Tongkah Harbour Limited”
the Company became a listed company with its shares traded in the Stock Exchange of Thailand (SET).
With the collapse of the tin market in the mid-1980’s, the Company turned to diversification by entering the gold and base metal exploration in 1990, and the property development in Bangkok where it undertook the construction of “Tongkah Tower”, now known as the “ True Tower ”.
The Company is now exporting the gold-copper concentrates on a regular basis as of October 2009
The Company has entered into the property development business in the form of residential and commercial buildings. Skycliff Limited has studied business planning in real estate investing and considered the details of the project to allocate land and buildings by taking into the suitability of doing business, by considering an investment with 89 Capricorn Development Co.,Ltd.
On October 24, 2013, the Company decided to voluntarily enter into the process of business reorganization by filing a petition with the Central Bankruptcy Court for the purpose of debt restructuring
The property development business by 89 Capricorn Development has started to develop a land area in Phuket to be used for housing and commercial project under the name “The Bay Skycliff”.
The Central Bankruptcy Court issued orders to rehabilitate business according to the company’s petition. The Company was appointed as a planner.
August : The creditors’ meeting had approved the rehabilitation plan and the Central Bankruptcy Court had approved the plan.
September : Central Bankruptcy Court appointed the Company as the Plan Administrator.
October : On October 28, 2015, the Company restructured its capital by registering the increase capital with the Department of Business
Development, The Ministry of Commerce from “Registered Capital Baht 756,939,463” to “Registered Capital Baht 24,156,939,463”
– March 18, 2016, the Company had successfully raised funds under rehabilitation plan. By changing from the original “756,939,463” to “20,402,222,606”
– On March 19, 2016, the Company had completed the debt repaying deposits of all groups under rehabilitation plan, totaling Baht 529,784,548.64.
– On March 31, 2016, the Company and Cholsin Limited sold the investment in Tungkum Limited in accordance with the resolutions of the Board of Directors of the Company and Cholsin Limited.
The Company had begun to expand business to neighboring countries. On August 1, 2016, the Company entered into a share purchase agreement with LaoNgam Guang Tong Mineral Co., Ltd., at 70% of total registered shares with the intention to expand business and investment in copper mining in Laos PDR.
On September 18, 2019, the company signed a management contract for mining in Myanmar with Ngwe Kabar Myanmar Company Limited and the machinery was completely installed in January 2017 and is undergoing the testing of production machinery. Expected that the beginning of tin production will be within the first
quarter of this year.
On October 10, 2016, the Company filed a petition to terminate the rehabilitation plan to the Central Bankruptcy Court.
On November 22, 2016 the Central Bankrupt Court issued an order to hearing the termination of the rehabilitation plan on May 8, 2017.