MINING concession buy-outs will make Brighton Mining Limited one of the Kingdom’s largest miners by concession size in Cambodia’s Mondulkiri province, according to a company statement issued yesterday.
Brighton, an ASX-listed company, has completed negotiations with Summer Gold Investment Pty Limited for mining concessions in Mondulkiri and Ratanakiri provinces. The acquisition will give the company one of the largest holdings in Mondulkiri province, according to the statement.
The new Mondulkiri concession will adjoin a previously held concession in the Antrong area, the statement said.
New York-based SpringTree Special Opportunities Fund announced in May that it would invest US$5.8 million in equity funding for Brighton’s Antrong concession, the Post previously reported. Brighton began test drilling for gold in Antrong in January. Although Brighton said it was in negotiations for other concessions, the announcement did not give company names or regions. Brighton Managing Director Jonathan Remta and Cambodian Association of Mining and Exploration Companies president Richard Stanger were not immediately available for comment.