Group Wants Changes to Prey Long Forest Protected Plan
January 23rd, 2013, The Cambodia Daily, Economic Land Concessions, Environment & Natural Resources, Extractive Industries, Forests, Land Tenure, Mining, News Source, Protected Areas, Timber/Wood
A local conservation group yesterday called for several changes to a draft sub-decree meant to turn Cambodia’s Prey Long Forest into a protected area, concerned it could end up harming, rather than conserving, the forest.
“It does not give people in surrounding communities the right to make decision” on how to manage the forest, said Svay Phoeun, a member of the group – the Prey Long People’s Network – from Preah Vihear province. …
Khuon Narim and Saing Soenthrith, P.20
www.cambodiadaily.com
Chinese Mining Firm Plans Siem Reap Extraction
January 22nd, 2013, The Cambodia Daily, Business & Commercial Development, Construction, Economic Land Concessions, Extractive Industries, Foreign Investment, Industry, Infrastructure, International Relations, Land Tenure, Mining
A Chinese conglomerate headed by an adviser to Senate President Chea Sim plans to begin extracting gold and copper in Siem Reap province in two months, the firm’s chairman said yesterday.
Khmer Holding, a group of companies that claims vast mineral interests in Cambodia, opened an office in Hong Kong last week to drum up investment for their plans in Cambodia. …
Cao Yunde- who says he is an adviser to Mr. Sim but that the Senate president is not directly involved in his mining business- said in an interview at his office in Phnom Penh that Khmer Holding already has a licence to extract minerals on 36 square km of land in Siem Reap’s Chi Kreng district.
Chea Bunlong, director of the Siem Reap provincial department of Industry, Mines and Energy said he had not heard of Khmer Holdings, or a subsidiary names Khmer First Wealth Holding, which company literature says holds the Chi Kreng mining licence. …
Chi Kreng district police cheif Toch Sakal said that Nim Meng was the only company he was aware of operating in the area, but they had since ceased operations.
“They stopped and I’m not sure who they transferred [the project] to,” he said.
Simon Lewis and Kaing Menghun, P.18
www.cambodiadaily.com
Petronas still eyeing Cambodia
January 21st, 2013, The Edge Malaysia.com, Business & Commercial Development, Disputed Waters, Energy, Extractive Industries, Foreign Investment, Industry, Infrastructure, International Relations, Land Tenure, Natural Gas, Oil
After closing the last of its 19 petrol stations in Cambodia in April 2010, Petroliam Nasional Bhd (Petronas) is again eyeing the country’s oil and gas (O&G) sector. This will see Chevron and its partners developing the country’s first offshore oil field this year.
According to Petronas president and CEO Tan Sri Shamsul Azhar Abbas, the Malaysian national oil company will deliberate on the merits of re-entering the Indochinese nation should the company be able to work out a win-win deal with the Cambodian authorities. …
Cambodia’s offshore oil fields are categorized under Blocks A to F, which are also claimed by Thailand. Both countries are negotiating how they will jointly capitalise on the O&G reserves within the Gulf of Thailand.
Onshore [sic], Cambodia was reported to have licensed blocks to state-run Vietnam Oil and Gas Group or PetroVietnam, and Japan Oil, Gas and Metals National Corp, or Jogmec. …
Petronas Chemicals Group Bhd president and CEO Dr Abd Hapiz Abdullah was quoted as saying that the company is planning to grow its regional presence in Myanmar and Cambodia from 2013.
Chong Jin Hun
http://www.theedgemalaysia.com/highlights/229579-petronas-still-eyeing-cambodia.html
Cambodian miner Khmer Resources plans to tap Hong Kong capital market
January 18th, 2013, South China Morning Post, Business & Commercial Development, Construction, Domestic Investment, Economics, Extractive Industries, Foreign Investment, Industry, Infrastructure, International Relations, Mining
Khmer Resources Investment, which is backed by the Cambodian government, aims to list in Hong Kong within two years, chairman Cao Yunde said.
“We intend to leverage the capital market of Hong Kong to finance our growth through a public listing so as to maximise the benefits for Cambodia and its people,” said Cao at the opening of Khmer Resources’ Hong Kong office yesterday.
“The mission of Khmer Resources and Khmer Hong Kong is to boost the social and economic development of Cambodia, transform Cambodia’s comparative advantage in natural resources into economic benefits, and adopt the capital market approach to the mining industries.” …
Khmer Resources’ shareholders included Chinese state-owned enterprises, listed and private Chinese companies and Australian firms, said Cao without revealing details. …
In Cambodia, Khmer Resources has a 280 square kilometre coal mine, a 120 sqkm nickel and cobalt mine, a 288 sqkm rare-earth mine, a 218 sqkm rare-earth mine, a 198 sqkm copper and gold mine, a 198 sqkm rare-earth mine and an 80 sqkm copper and gold mine. …
Toh Han Shih
http://www.scmp.com/business/commodities/article/1130588/cambodian-miner-khmer-resources-plans-tap-hong-kong-capital
Mesco, Angkor to mine gold
January 18th, 2013, The Phnom Penh Post, Business & Commercial Development, Construction, Extractive Industries, Foreign Investment, Industry, Infrastructure, International Relations, Mining
Mesco Gold, an associated company of India-based Mesco Steel, will sign an agreement with Angkor Gold to mine the Phum Syrang prospect on one of its economic land concessions in Ratanakkiri province. …
“We’ve been exploring the area since 2006. We’ve been drilling holes and there’s plenty of gold there,” Stanger said.
Daniel de Carteret
http://www.phnompenhpost.com/2013011860848/Business/mesco-angkor-to-mine-gold.html
Police reopen OZ, Cochlear bribery cases
January 14th, 2013, The Sydney Morning Herald, Business & Commercial Development, Extractive Industries, Foreign Investment, Industry, Infrastructure, International Relations, Mining
THE Australian Federal Police will reopen corruption inquiries into major Australian companies OZ Minerals and Cochlear, after searing criticism that it was lax in its investigations. …
OZ Minerals will be targeted following discussions with the OECD about the AFP’s previous investigation of alleged foreign bribery in OZ Minerals’ Cambodian goldmining operations.
In 2011, The Cambodia Daily newspaper alleged OZ Minerals paid more than $US1 million to three women on the board of its joint-venture partner Shin Ha when it bought the company in 2009. The women were closely related to Cambodian officials, some of whom worked in the mining ministry, the newspaper alleged.
According to the OECD report, Australian Federal Police dismissed the allegations before a formal investigation was opened ”because it received information from the AFP’s overseas network that the transaction had been undertaken with due diligence and that all payments were made at the joint venture partner’s request.” …
Maris Beck and Ben Butler
http://www.smh.com.au/business/police-reopen-oz-cochlear-bribery-cases-20130112-2cmrt.html
Energy security linked to firm borders
January 11th, 2013, Bangkok Post, Business & Commercial Development, Construction, Disputed Land, Disputed Waters, Energy, Extractive Industries, Industry, Infrastructure, International Relations, Land Tenure, Natural Gas, Oil
Energy supplies will be more secure once territorial disputes between Thailand and Cambodia are resolved, Department of Mineral Fuels director-general Songpob Polchan said on Friday.
Mr Songpob said that the sooner Thailand and Cambodia are able to work out their differences, the sooner they can exploit natural gas reserves and ensure energy security, especially with energy consumption rising in both countries every year.
He said the border dispute around the Preah Vihear temple is unrelated to a separate maritime dispute. Even if the border problem has been settled and drilling concession has been granted, it will be another 10 years before the gas could be extracted. He urged the government to consider public sentiment on the issue. …
Bangkok Post Staff
http://www.bangkokpost.com/breakingnews/330370/end-to-border-row-to-help-energy-sector
Angkor Gold cashes in on Cambodia
January 9th, 2013, The Northern Miner, Business & Commercial Development, Construction, Economics, Extractive Industries, Foreign Investment, Industry, Infrastructure, International Relations, Mining
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.
Matthew Keevil
http://www.northernminer.com/news/angkor-gold-cashes-in-on-cambodia/1001981285/?type=HotSectors
Okvau explorer raises $10m
January 9th, 2013, The Phnom Penh Post, Business & Commercial Development, Construction, Economics, Extractive Industries, Foreign Investment, Industry, Infrastructure, International Relations, Labor, Mining
Renaissance Minerals has raised $10 million for its gold-mining program at the Okvau deposit, in Mondulkiri province.
The Australian company had estimated the area contained 729,000 ounces of gold. …
Renaissance’s biggest challenge would be to finance the project by equity investments world-wide, Tremain said. …
Renaissance is spending $1 million a month on “aggressive exploration” in Okvau and wants to establish a multi-million-ounce district.
By Sarah Thust
http://www.phnompenhpost.com/2013010960685/Business/okvau-explorer-raises-10m.html
Royal Group to Take Stake in Mining Project
January 7th, 2013, The Cambodia Daily, Business & Commercial Development, Energy, Extractive Industries, Foreign Investment, Hydroelectricity, Mining, News Source
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. …
Simon Lewis, P.17
www.cambodiadaily.com
Miner buys into Cambodian copper
January 4th, 2013, The Phnom Penh Post, Business & Commercial Development, Exports, Extractive Industries, Foreign Investment, Mining
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. …
May Kunmakara and Sarah Thust
http://www.phnompenhpost.com/2013010460638/Business/miner-buys-into-cambodian-copper.html
Cambodia lures ex-Adamus executives
January 4th, 2013, The West Australian, Business & Commercial Development, Extractive Industries, Foreign Investment, Mining, News Source
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. …
Nick Evans
http://au.news.yahoo.com/thewest/business/a/-/national/15760417/cambodia-lures-ex-adamus-executives/
Vietnam investment in Cambodia hits US$2.5 bil
January 1st, 2013, Vietnamnet, Agriculture & Agri-business, Agro-Industry, Banking & Finance, Business & Commercial Development, Economics, Electricity, Energy, Exports, Extractive Industries, Farming, Financial Services, Foreign Investment, Garment Industry, Imports, Industry, International Relations, Land Tenure, Mining, News Source, Real Estate, Tourism, Trade
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. …
SGT
http://english.vietnamnet.vn/fms/business/55818/vietnam-investment-in-cambodia-hits-us-2-5-bil.html
Cambodian, Chinese firms unveil 1st oil refinery project in Cambodia
December 29th, 2012, Xinhuanet News, Business & Commercial Development, Construction, Energy, Extractive Industries, Industry, Infrastructure, International Relations, Oil
Cambodian Petrochemical Company and Sinomach China Perfect Machinery Industry Corp jointly announced on Friday to build the first oil refinery in Cambodia and the construction is expected to be completed at the end of 2015.
Zhang Sugang, president of Sinomach China Perfect Machinery Industry Corp, said the oil refinery will cost 2.3 billion U.S. dollars and it will take 36 months to be constructed on the 80- hectare area within the boundary of Preah Sihanouk province and Kampot province. …
“When the construction is completed, the plant will be capable to produce 5 million tons of oil a year,” he said after a signing ceremony here.
The country’s seabed is believed to be rich in oil and gas, but exploitation is not made yet. …
Sok An said that U.S.’ Chevron has invested about 150 million U. S. dollars for oil and gas exploration in Cambodia’s offshore Block A and it is estimated that the firm needs to invest another 600 million U.S. dollars to exploit oil and gas from the Block. …
Editor: Wang Yuanyuan
http://news.xinhuanet.com/english/china/2012-12/28/c_132069193.htm
Cambodia-Vietnam trade, investment see marked rises in 2012
December 29th, 2012, Xinhuanet News, Agriculture & Agri-business, Banking & Finance, Business & Commercial Development, Construction, Economics, Energy, Exports, Extractive Industries, Foreign Investment, Industry, Infrastructure, International Relations, Mining, Trade
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. …
Editor: Yang Lina
http://news.xinhuanet.com/english/world/2012-12/29/c_132070890.htm
Cambodian PM vows to protect environment
December 17th, 2012, Xinhuanet News, Business & Commercial Development, Disasters & Disaster Management, Domestic Investment, Environment & Natural Resources, Environmental change, Extractive Industries, Forests, Land Tenure, Mining, News Source
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. …
Xinhuanet
http://news.xinhuanet.com/english/world/2012-12/17/c_132046623.htm
Mixed results for oil firm’s search off coast
December 6th, 2012, The Cambodia Daily, Construction, Energy, Extractive Industries, Industry, Infrastructure, International Relations, Natural Gas, Oil
The first well drilled by a major Chinese company looking for oil and gas in Cambodian waters has been completed, though hydrocarbons in the firms offshore block are proving elusive, an official at the Cambodian National Petroleum Authority (CNPA) has said. …
Simon Lewis,
http://www.cambodiadaily.com/business/mixed-results-for-oil-firms-search-off-coast-6489/
One Safe, Three Missing in Hydrodam Accident
December 4th, 2012, VOA, Disasters & Disaster Management, Electricity, Energy, Extractive Industries, Hydroelectricity, Mining, News Source
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. …
Kong Sothanarith
http://www.voacambodia.com/content/one-safe-three-missing-in-hydrodam-accident/1557685.html
Landmines kill 41 Cambodians, injuring 121 others in 10 months
December 3rd, 2012, Xinhuanet News, Disasters & Disaster Management, Extractive Industries, Mining, News Source
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. …
Xinhuanet
http://news.xinhuanet.com/english/world/2012-12/03/c_132016467.htm
Cambodian NGO: PTT entry would benefit consumers
November 29th, 2012, Bangkok Post, Construction, Energy, Extractive Industries, Industry, Infrastructure, International Relations, Natural Gas, Oil
A Cambodian NGO believes that investment by Thailand’s PTT oil conglomerate in petroleum projects in the region would promote competition and benefit consumers.
Thailand’s largest petroleum firm said lastThursday it is currently studying options for petrochemical and oil refinery projects in three Asean countries — Cambodia, Indonesia and Myanmar. …
Bangkok Post Staff
http://www.bangkokpost.com/business/news/323691/cambodia-ptt-entry-would-benefit-consumers