Logo of Phnom Penh Post newspaper Phnom Penh Post - Angkor Gold ends deal with miner Blue River

Angkor Gold ends deal with miner Blue River

Angkor Gold ends deal with miner Blue River

Canadian mining firm Angkor Gold Corp has terminated its earn-in exploration agreement with Vancouver-based junior mining firm Blue River Resources Ltd, putting an end to the latter’s drilling on Angkor’s gold- and copper-rich Banlung Tenement, according to a statement released by Angkor yesterday.

This agreement and four other licences were each renewed and extended for three years by Angkor in March. Prior to the abrupt cancellation of the Blue River contract, Angkor had five exploration licences covering approximately 983 square kilometres of land in Cambodia.

Under the terms of the now-terminated contract, Blue River had committed to invest $3.5 million over a four-year period in exchange for up to 50 percent interest in the licence.

MOST VIEWED

  • Woman detained for murder of hairdresser over unpaid $1K debt

    A woman has been held in connection with the murder of a 40-year-old widow. The victim’s daughter claims the motive was the suspect’s unpaid four million riel ($1,000) debt to her mother. The 17-year-old girl, Pich Sievmey, said her mother, Koem Yaneang, a hairdresser

  • ‘Life goes on’ if Cambodia loses Everything But Arms

    Cambodia's business sector is exploring ways to mitigate any fallout from a possible loss of access to the EU’s Everything But Arms (EBA) agreement as talks continue before the 28-member bloc makes a final decision. The EU monitoring process is set to conclude in

  • Nesat beach: A magnet drawing tourists to the Kingdom’s coastline

    A white sandy beach lined by countless coconut trees awaits travellers off Cambodia’s southwest coast in Koh Kong province’s Srae Ambel district, about 170km from Phnom Penh. Over the past few years Nesat beach – a name inspired by a nearby fishing village – has

  • Woman confesses to murder, dismemberment over debt

    The daughter of a woman who was killed and dismembered in Phnom Penh earlier this month requested the authorities on Wednesday to impose the death penalty on the woman who killed her mother, after listening to the killer confess and describe her gruesome actions without