Cambodia will soon join the list of gold-producing countries after the government announced the commencement of commercial gold mining operations in the Okvau area in southwestern Mondulkiri province's Keo Seima district from June 21.
Cambodia’s Prime Minister Hun Sen on June 10 announced that after 14 years of exploration and research by Australian miner Renaissance Minerals (Cambodia) Ltd, the company will be the first to commercialise the gold at the Okvau Gold Project.
Renaissance will be able to produce semi-finished gold alloys containing 90 per cent gold in compliance with recognised international standards. The initial Life of Mine (LOM) of eight years has been outlined, with an average of three tonnes of gold produced each year.
Cambodia expects the project to generate $185 mn per annum in pre-tax cash flow, with $40 mn from royalties and taxes transferred to the national budget. Renaissance's parent company, Perth-based Emerald Resources NL, on June 8 said it had commenced crushing activities, delivered the first ore feed to the mill and has commenced wet commissioning of the processing plant at its wholly owned 1.14-mega-ounce Okvau Gold Project in advance of the maiden gold pour this month.
Emerald managing director Morgan Hart said: “The first ore feed and commencement of wet commissioning of the Okvau Gold Project is a significant milestone for the company and represents the exceptional efforts by our experienced construction and development team with cooperation from our quality contractors and global suppliers.”
Prime Minister Hun Sen claimed that with the start of the first international small-scale industrial mining business in Cambodia, the Okvau Gold Project will serve as a role model for other would-be miners and motivate them to comply with sustainable mineral-resource development principles.
Aruna Gaitonde, Editor in Chief for the Asian Bureau, Rough&Polished
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