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

  • New US bill ‘is a violation of Cambodian independence’

    After a US congressmen introduced bipartisan legislation that will enact sanctions on Cambodian officials responsible for “undermining democracy” in the Kingdom, government officials and the ruling Cambodian People’s Party on Sunday said they regarded the potential action as the “violation of independence and sovereignty

  • Angkor Wat named as the top landmark for the second year

    Travel website TripAdvisor has named Cambodia’s ancient wonder Angkor Wat as the top landmark in the world for the second year running in their Travelers’ Choice Award 2018, an achievement Cambodian tourism operators expect will attract more tourists to the Kingdom. The website uses traveller

  • Ministry’s plan for net sparks fears

    The government has ordered all domestic and international internet traffic in the Kingdom to pass through a Data Management Centre (DMC) that has been newly created by the state-owned Telecom Cambodia, in a move some have claimed is an attempt to censor government critics. Spokesman

  • Hun Sen detractors ‘will die’

    Prime Minister Hun Sen on Wednesday said those who curse or insult him would eventually die without a plot of land to bury their bodies after being killed by lightning, suffering the same fate as those who recently died in Thmar Baing district in Koh