Renaissance Minerals (Cambodia) Ltd, a subsidiary of Australia-listed Emerald Resources NL, is conducting an Initial Environmental Impact Assessment (IEIA) for a new gold-mine project in Tbong Khmum province’s Memot district.
Located 95km southeast of Renaissance’s existing Okvau Gold Project in Mondulkiri province’s Keo Seima district, operations manager Bernie Cleary told The Post that the 107.10sq km mining concession in the Memot area is highly prospective for gold exploration.
“Our vision is to have a net positive impact on near-mine environmental and social values by targeting strict compliance with corporate governance, international guidelines and local law, and engage and collaborate with all stakeholders in the project area,” he said.
In its preparation of its IEIA report, Cleary said Renaissance is engaging the community and identifying potential socio-environmental and archaeological impacts.
When completed, reviewed and approved by the Ministry of Environment, the report will govern the implementation of exploration practices in a socio-environmentally conscious manner, he said.
“Renaissance is currently evaluating historical records of the licence area in order to plan the gold exploration programme which will commence following the issuance of an Environmental Licence,” Cleary added.
The Ministry of Mines and Energy granted initial approval to carry out gold exploration, saying it will formally issue a licence after the standard documentation has been processed, according to a January 28 announcement from Renaissance.
This will follow “completion of an exploration environmental impact assessment approved by the Cambodian Ministry of Environment”, the company said.
Emerald managing director Morgan Hart said the Memot Project complements the company’s existing tenement portfolio and is consistent with its stated aim of increasing its footprint of prospective exploration assets in Cambodia with a view to creating a pipeline of development assets that adds to current resources and reserves at its 1.14-mega-ounce flagship Okvau Gold Project.
He said the Okvau Gold Project remains on time and on budget with commissioning and first gold expected in the second quarter of this year “through the efforts of our dedicated in-house development team.
“The presence of extensive ongoing artisanal workings within the new tenement area and strong indications of significant gold mineralisation from historical records give Emerald another highly prospective gold licence area with strong potential to add to the company’s resource and reserve base in Cambodia,” Hart said.