Australia's Renaissance Minerals (Cambodia) Ltd. unveiled Thursday that it estimated that gold resource[s] at O'kvau area in Cambodia's Mondolkiri province could be as much as 1.2 million ounces, the firm's Managing Director Justin Tremain said.
Speaking during a meeting with Cambodian Minister of Industry, Mines and Energy Suy Sem on Thursday,... continue
It has been just over a year since Vancouver-based Angkor Gold (ANK-V) went public with its stable of Cambodian exploration projects, and it is looking like the company’s early mover strategy in the developing Southeast Asian nation might be poised to pay off.
To kick off the new year, Angkor entered into an agreement with a partnership that includes Chinese gold miner Canxiang Mining to sell a portion of its Oyadao gold-silver property for US$2.4 million in cash. Angkor chairperson and CEO Michael Weeks says the transaction is part of a deal-making strategy that would let the company fund exploration on its expansive Cambodian land package with limited equity dilution. …
The sale could mark the first step in Angkor’s strategy to develop a project-generation model in Cambodia. The company retains a 100% stake in 2,800 sq. km in the country, and spent US$10 million privately during extensive surface campaigns that included airborne magnetics, sampling and trenching on its properties. …
Angkor has traded within a 52-week range of 26¢ and 60¢, and has 75 million shares outstanding. The company closed at 33¢ per share at press time and maintained a $25-million market capitalization. The Oyadao transaction is expected to close within 45 days.
A mining company listed on the Australian Securities Exchange has announced a plan to pay $14 million for a license to explore for copper in Preah Vihear province, in a deal involving local conglomerate Royal Group.
In an announcement to the bourse last Thurday, Geopacific Resource NL said that it will take over World Wide Mining Projects Limited (WWM), in order to have the option of taking on the Kao Sa mining exploration on Chheb district. …
Geopacific Resources, an Australian mineral exploration company focused on gold and copper projects in Fiji, wants to take over Worldwide Mining Projects Limited, a mineral assets searcher in Southeast Asia.
Worldwide Mining Projects Limited has signed a sales agreement with Golden Resources Development, a South Korean controlled Cambodian company,
according to a press release yesterday.
The sales agreement is an option to acquire an 85 per cent interest in the highly prospective Kou Sa Copper Project in northern Cambodia.
The remaining 15 per cent will be acquired by a subsidiary of Worldwide Mining Projects Limited’s Cambodia partner, the Royal Group. …
Former Adamus Resources executives Milan Bojanjac and Ron Heeks are plotting a return to the Australian bourse, through a deal with the Charlie Bass-backed Geopacific Resources.
In a deal it said would give it access to a substantial land- holding in Cambodia, Geopacific announced plans for a one-for-one all-scrip acquisition of unlisted company World Wide Mining Projects. Worldwide is chaired by former Straits Resources chief executive Milan Jerkovic. Both Mr Bojanjac and Mr Heeks serve on its board, and will step across to Geopacific when the acquisition closes. …
Vietnamese enterprises so far have invested in 124 projects in Cambodia with total registered capital of some US$2.5 billion, four times higher than the figure in 2009.
As such, Vietnam is now among the top five investors in Cambodia, said the Association of Vietnamese Investors in Cambodia (AVIC) at a conference to review three years promoting Vietnam trade and investment in Cambodia held in Phnom Penh this Tuesday. …
Bilateral trade volume between Cambodia and Vietnam jumped to 3.3 billion U.S. dollars in 2012, a 18 percent rise from 2.8 billion U.S. dollars in 2011, according to a report provided by the Association of Vietnam Investment in Cambodia on Saturday. …
The report also said that Vietnamese investment in Cambodia had reached 2.5 billion U.S. dollars in 2012, up 25 percent from 2 billion U.S. dollars in 2011, ranking Vietnam as the 5th largest investor in the country. …
Cambodian Prime Minister Hun Sen said Monday he decided to choose environment protection, not to choose 30 billion U.S. dollar expected revenues from the exploitation of titanium ore in Southwestern Cambodia.
“According to a feasibility study, titanium ore deposit in Chhiphat district in Koh Kong province is estimated at the value of 30 billion U.S. dollars, but to exploit the mineral, it is required to destroy about 20,000 hectares of forest,” he said during the inauguration of an automotive electronic parts factory in the province. …
PHNOM PENH – Authorities are searching for three missing construction workers at a Chinese hydroelectric dam in Pursat province, after pipes burst there on Saturday, causing a flash flood.
One man, who had been fishing nearby and was thought missing, has been found “safe and alive” at home in the first accident of its kind in Cambodia, at the Atay Dam, in Veal Veng district, some 100 kilometers from the provincial town capital, said Theang Leng chief of district police there. …
Cambodia on Monday recorded 162 landmine casualties in the first ten months of this year, down 4 percent from 155 casualties at the same period last year, showed a report from the Cambodian Mine and Explosive Remnants of War Victim Information System.
The report said that from January to October this year, 41 people were killed, up from 34 deaths at the same period last year. In addition, 121 others were injured or amputated, down from 119 at the same period last year.
It said that 51 percent of the victims were men, 27 percent were boys, and 22 percent were women and girls. …
U.S. President Barack Obama pressed Prime Minister Hun Sen on the government’s human rights record during a closed-door meeting between the two leaders in Phnom Penh yesterday, calling for fair elections and the release of all political prisoners.
In the first visit to Cambodia by a serving American president, U.S. deputy national security adviser Ben Rhodes said Mr. Obama devoted his entire meeting with the prime minister to human rights issues, according to Reuters.
“In particular, I would say the need for them to move toward elections that are fair and free, the need for an independent election commission associated with those elections, the need to allow for the release of political prisoners and for opposition parties to be able to operate,” Mr. Rhodes said, referring to the discussion between the two leaders. …
Community representatives from Indonesia and the Philippines warned Cambodia yesterday of the potential human cost that an influx of mining companies could bring to the country.
As private companies scour the land for minerals, with some set to begin extraction within a few years, Cambodia could be on the brink of a large financial windfall from an emergent mining sector. …
The SET-listed Ratchaburi Electricity Generating Holding Plc (RATCH), Thailand’s largest private power producer, is to delay the purchase of a coal mine in Indonesia, as the global coal price has dropped sharply.
Ratch had planned to acquire a mine to serve its new coal-fired power plants in Thailand, Cambodia and Myanmar.
However, the coal price has lost 30% this week, said chief executive Noppol Milinthanggoon….
The possible investments in power generation in Myanmar and Cambodia are planned to tap an increase in electricity demand in those countries. …
Police officials said yesterday two people had died when a Mondulkiri gold mine collapsed on Saturday, but that neither of them worked for the mining company that owns it.
Provincial police chief Nhem Vanny said two men aged 25 and 30, had died in a Pech Chreada district mine owned by Australia’s Southern Gold…
Cambodia, with a total population of 14,952,665 as of July 2010, is located in Southeastern Asia, bordering the Gulf of Thailand, between Thailand, Vietnam, and Laos. The country mostly has a tropical climate and covers a total area of 181,035 km2…
Cambodia’s key natural resources include gemstones, gas, oil, phosphates, manganese, iron ore and timber.
In 2010, the country’s industrial mineral sector produced an increasing amount of crushed stone and sand and gravel. These minerals were consumed by the country’s construction industry, and limestone was consumed domestically for the production of cement. …
Indochine Mining Limited (ASX:IDC.AX – News) is pleased to announce a successful capital raising from existing institutional shareholders and a new major global fund…
Indochine Mining Limited (ASX:IDC.AX – News) is a gold-copper exploration and development company. In Cambodia, it has the largest mining property holding in a country that has had very limited modern exploration, and is within a region known for world-class gold and copper deposits…
Cambodians for Resource Revenue Transparency (CRRT) will host a one-day National Conference Nov. 2 on the Best Practice of Governance in Extractive Industries and Revenue Management.
The conference, to be attended by representatives from the Association of South East Asia Nations (ASEAN), will also include representatives of Cambodian government ministries, industry experts, researchers, university students, national and international non-governmental organizations, embassies, donors, development partners and members of the media and the private sector. The event will take place at the Cambodiana Hotel in Phnom Penh….
“This conference is an important event to best build common understanding among government, the private sector and the public on important details about oil, gas and mining development in Cambodia,” said Chhay Sarath, Executive Director of CRRT.
Kompong Thom provincial officials will stop illegal gold mining in seven locations in Sandan district’s Meanrith commune come November, provincial and district officials said.
About 100 residents of Meanrith have been illegally digging for gold in the district for several years, provincial deputy governor King Vimean said yesterday. …
Mr. Vimean said the provincial government was acting on an order from Interior Minister Sar Kheng, who sent a warning letter dated September 7. …
Toxic runoff from small-scale gold mining operations in Battambang province killed two cattle on Wednesday, the latest casualties from pollution in the area led to the closing of more than 100 mines earlier this year. …
Officials from the provincial mines department yesterday said they were unaware of the recent of the recent cattle deaths, but did not say if they would investigate. …
