Logo of Phnom Penh Post newspaper Phnom Penh Post - Angkor Gold in second exploratory phase

Angkor Gold in second exploratory phase

Angkor Gold in second exploratory phase

Angkor Gold Corp is entering its second phase of exploration in Ratanakiri province after its first round showed promising indications of copper and silver deposits.

The firm, along with partner Japan Oil, Gas and Metals National Corporation (JOGMEC), will inject another $1 million into further exploration and undertake 1.2 kilometres of drilling in and around its Halo prospect in the Oyadao region by the end of March, according to a statement issued yesterday.

John-Paul Dau, vice president of operations at Angkor Gold, said the Oyadao site was a flagship project for the company.

“The first round we had 1,800 metres drilling,” he said. “We got positive results, and this set the stage for phase two.”

Dau said he expected the third phase of exploration to begin in July, and added that the positive results were already drawing attention to the country’s nascent mining sector.

“Once people find out there are deposits here, they’re going to start coming,” he said, “which sets up Cambodia as a big destination for mining companies willing to spend a lot of money.”

Mines and Energy Ministry spokesman Yos Monirath praised the announcement as a good sign for the mining sector’s overall health.

“Yes, this is a positive move forward,” he said.

The Mines and Energy Ministry has in recent years worked with a variety of NGOs and companies to overhaul Cambodia’s mining regulations.

A report released by anti-corruption NGO Transparency International in August last year was generally positive regarding the ministry’s progress on the reforms, while also noting several remaining gaps in the regulatory framework.

MOST VIEWED

  • Ministry requests school opening

    The Ministry of Education, Youth and Sport on Thursday said it would request a decision from Prime Minister Hun Sen to allow a small number of schools to reopen next month. Ministry spokesman Ros Soveacha said if the request is granted, higher-standard schools will reopen

  • Kingdom eyes India FTA, China deal set for August

    Cambodia is studying the possibility of establishing a bilateral free trade agreement (FTA) with India to open a new market with the second-largest regional economy. This comes as an FTA with China is scheduled to be signed next month while similar negotiations with South Korea

  • Judge lands in court after crashing into alleged thief

    Sen Sok district police on Thursday sent a Koh Kong Provincial Court judge to the Phnom Penh Municipal Court on manslaughter charges after he crashed his car into a woman riding a motorbike on Wednesday, killing her. District police chief Hour Meng Vang told The

  • Preah Vihear court drops charges against villagers

    The Preah Vihear Provincial Court has dropped all charges against eight ethnic Kuoy villagers who were in a land dispute with the Hengfu Group Sugar Industry Co Ltd since 2014. Wednesday’s decision was made by the judge who tried the case on June 10. The eight

  • Gov’t to boost Siem Reap tourism

    The Ministry of Tourism released the results of an inter-ministerial committee meeting concerning Siem Reap province’s Tourism Development Master Plan for 2020-2035 on Wednesday, revealing the government’s plan to improve the overall tourist landscape there. The meeting was attended by Minister of Tourism

  • Residents ordered to remove structures on Phnom Penh’s canal

    Phnom Penh municipal governor Khuong Sreng has ordered authorities to act against the perpetrators who built houses along the Luo 5 canal in Meanchey district. The municipal administration plans to create a committee to solve the matter. The order was given on Wednesday while Sreng led

  • ‘On the offensive’: Cambodia to load up on loans to stimulate economy

    As the dust settles on the economy, Cambodia comes to grips with what needs to be done to turn the economy around, starting with a big shopping list for credit ‘We are going on the offensive,” Vongsey Vissoth, Ministry of Economy and Finance permanent secretary

  • Eighty replacement peacekeepers set for Mali mission despite Covid

    Eighty Cambodian blue helmet soldiers who completed the peacekeeping mission under the UN umbrella in Mali will return to Cambodia on Friday, said the Centre for Peacekeeping Forces spokeswoman Kosal Malida. “To protect their families and communities from the Covid-19 pandemic, the 80 are required to

  • Government set to make up for cancelled April holiday

    The government is set to make up for a five-day Khmer New Year holiday late this month or early next month. The holiday was earlier cancelled due to the onset of Covid-19. The announcement is expected on Friday as the government is studying a range

  • Families told to register for cash handouts

    The government has called on poor families to apply to commune authorities for evaluation to receive financial support during the Covid-19 crisis. A $300 million budget has been planned for implementation within a year. Ministry of Economy and Finance secretary of state Vongsey Visoth said this