Logo of Phnom Penh Post newspaper Phnom Penh Post - Australian firms in JV for exploratory drilling

Australian firms in JV for exploratory drilling

Australian firms in JV for exploratory drilling

Renaissance Minerals and Emerald Resources finalised a joint venture agreement and commenced exploratory drilling near the Okvau gold deposit in Mondulkiri province.

The exploration is aimed at probing around the Okvau gold deposit to determine additional resources beyond the current 1.13 million ounce gold resource estimate, a press release stated.

Under the joint venture, Australia’s Emerald Resources stands to earn 51 per cent interest on the deposit while committing $3 million to fund a two-year exploration program.

MOST VIEWED

  • US imposes sanctions on Oknha Pheap and Kun Kim

    The Ministry of Foreign Affairs and International Cooperation expressed strong dismay on Monday over the designation of Cambodian tycoon Oknha Try Pheap and General Kun Kim under the US’ Global Magnitsky Act. “It is very disturbing when the public figures of a country become the

  • Rights Day forum denied in Sihanoukville

    The Preah Sihanouk provincial administration last Saturday denied the request of land communities for a public location in the province to celebrate International Human Rights Day 2019 as the administration had already held forums to discuss land issues. However, the land community representatives said they would

  • Mother, daughter killed in hotel fire

    The bodies of a mother and daughter were found locked in an embrace after they were killed in a hotel fire in Phnom Penh at around 3:30am on Wednesday at the Phkar Chhouk Tep 2 Hotel and Restaurant in Phsar Doeum Kor commune, in the capital’

  • Gov’t approves $9B worth of building projects in 2019

    The government has approved more than $9 billion this year for capital investment in the construction sector, a nearly 80 per cent increase on last year, with most of the growth coming from projects in Sihanoukville, according to Minister of Land Management, Urban Planning and Construction Chea

  • EBA withdrawal a destruction of EU achievements, PM says

    Prime Minister Hun Sen said the EU’s possible suspension of its Everything But Arms (EBA) agreement amounted to a destruction of its achievements in the Kingdom and the demise of the opposition group. Hun Sen made the remarks while addressing more than 6,700 students during

  • PP residents urged to use public transport

    Minister of Public Works and Transport Sun Chanthol has urged Phnom Penh residents to use the capital’s existing public transport services rather than private vehicles, as it is leading to increased traffic congestion. He also called for the city’s public bus system to