Logo of Phnom Penh Post newspaper Phnom Penh Post - Mesco, Angkor to mine gold

Mesco, Angkor to mine gold

Mesco, Angkor to mine gold

Mesco Gold, an associated company of India-based Mesco Steel, will sign an agreement with Angkor Gold to mine the Phum Syrang prospect on one of its economic land concessions in Ratanakkiri province.

A statement released by Angkor Gold said the agreement was about putting the company in a position of potential gold production.

“Mesco Gold has complementary skills sets and ambitions, and I am confident they are the right company to take Phum Syarung into production,” Angkor Gold chief executive Mike Weeks said.

Mesco will pay $1.2 million for the rights to mine. A feasibility study has yet to be completed, meaning there is no certainty it will be viable.

Cambodian Association of Mining and Exploration Companies president Richard Stanger is confident the mine will be viable.

“We’ve been exploring the area since 2006. We’ve been drilling holes and there’s plenty of gold there,” Stanger said.

To contact the reporter on this story: Daniel de Carteret at [email protected]

MOST VIEWED

  • Cambodia-Thailand rail reconnected after 45 years

    A railway reconnecting Cambodia and Thailand was officially inaugurated on Monday following a 45-year hiatus, with the two kingdoms’ prime ministers in attendance at the ceremony. On the occasion, Cambodian Prime Minister Hun Sen and Thai Prime Minister Prayut Chan-o-cha travelled together from Thailand’s

  • Thousands attend CNRP-organised pro-democracy vigil in South Korea

    Thousands of supporters of the Supreme Court-dissolved Cambodia National Rescue Party (CNRP) on Saturday gathered in the South Korean city of Gwangju to hold a candlelight demonstration calling for the “liberation” of democracy in Cambodia. Yim Sinorn, a CNRP member in South Korea, said on

  • US Embassy: Chinese trade does not help like the West’s

    The US Embassy in Phnom Penh on Friday said relations between China and Cambodia did not create jobs or help industry when compared to the trade between the Kingdom and the US. “About 87 per cent of trade [with China] are Chinese imports, which do not

  • The Christian NGO empowering Cambodian families in Siem Reap

    With its basketball court, football pitch, tennis court and ninja warrior water sports area, you could be forgiven for thinking that the Siem Reap campus of International Christian Fellowship (ICF) Cambodia is a sports centre. But while these free, family-friendly activities are one of the