cellcard cellcard cellcard

Gold production expected later this year

Chea Vanyuth / Khmer Times Share:
Processed gold bars. AFP

In the wake of oil production starting in Cambodia, the nation is also placing high hopes of becoming a gold producing country, with the first mining of the precious metal due to start later this year than originally planned.

The news was released by Yos Monirath, director-general of mines at the Ministry of Mines and Energy.

The firm involved is called the Okvau Gold Project. It is invested in by Renaissance Minerals (Cambodia) Ltd, a subsidiary of Australia-listed Emerald Resources NL, in Mondulkiri province.

The COVID-19 pandemic disrupted gold production, he said, making it difficult to import essential materials and bring in gold experts to inspect the process.

A previous deadline of gold production by Renaissance Minerals (Cambodia) was set to be made in the second quarter of this year.

The exploration firm said its feasibility study revealed the project could produce 106,000 ounces of gold a year on average over seven years from a single open pit.

Nearly 1 million ounces of gold are expected to be extracted based on a study of the first gold mine in the Okvau area in Keo Seima district in Mondulkiri province.

Related Posts

Previous Article

Asian markets swing as traders mull virus, vaccines, stimulus

Next Article

Pandemic offers challenges and opportunities to air ambulance industry