Search form

Login - Register | FOLLOW US ON

Logo of Phnom Penh Post newspaper Phnom Penh Post - Investment in mining operations falls sharply

Investment in mining operations falls sharply

Guangxi Nonferrous Metal Group invested $21.95 million in the construction of a steel processing plant, the data shows. The Chinese company planned to invest as much as  $500 million in Preah Vihear province, China’s state-owned Xinhua news agency reported in November.

China’s Xing Yuan Kang Yeak Co invested about $8.5 million in gold mining and Phu Yang Co, a Cambodian-Vietnamese joint venture, invested $800,000, according the data, which does not reveal the location of the projects.

New mining investment in Cambodia fell more than 71 per cent year over year in 2011, according to the data.

A $75 million investment in copper mining from Nim Meng Group, a Taiwanese-Cambodian joint venture, buoyed the 2010 figures.

Richard Stanger, president of the Cambodian Association for Mining and Exploration Companies, confirmed yesterday that international companies had reduced exploration in Cambodia as they developed other projects.

“There was a drop-off in exploration activity last year. Some companies were focusing on exploration in other countries,” Stanger said, adding that he expected signs of a  turnaround this year. 

0

Comments

Please, login or register to post a comment

Latest Video

Google Angkor

Google's 3D Angkor online

Drawing on over one million photos, Google has taken the Angkor Wat temple complex into the digital realm, allowing anyone with internet access to enjoy 360-degree panoramic views of 100 of the ancient temples.

97' grenade attack commemoration

Back in the streets

Thousands of CNRP supporters march through Phnom Penh

This month 20 years ago...

1994-03-25 07:00
Disabled sportsters have ball
1994-04-08 07:00
RAC head hopes to hit target
1994-03-25 07:00
Plea made to govt over fire brigade
1994-03-25 07:00
Funcinpec's evaporating mandate
1994-03-25 07:00
General under fire
1994-03-25 07:00
Ministers muddy press law waters