Logo of Phnom Penh Post newspaper Phnom Penh Post - Mining revenue rises on improved collection

Mining revenue rises on improved collection

Mining revenue rises on improved collection

The Ministry of Mines and Energy collected $20.3 million in non-tax revenue last year, a 20 percent increase over the previous year, it said yesterday.

Overall revenue collection by the ministry saw a sizeable increase, exceeding official revenue estimates set out in the 2016 national budget plan by 248 percent, it said in an announcement.

Meng Saktheara, a secretary of state at the ministry, said the revenue came from the mining and petroleum sectors. It was collected in the form of licence fees for mining, royalties, rent from mining zone leases and fines on companies found in violation of regulations.

Saktheara said that the noticeable increase in revenue collection last year could be attributed to the government’s switch from an estimated regime for tax collection to a real regime. He added that increased prices for oil and gas licences as well a stronger audit system also contributed to the greater revenue.

“The increased revenue collection reflects the improved efficiency of our system,” he said. “We will continue to implement the improved methods for collection so we expect that revenue will also significantly increase this year.”

According to its announcement, the Ministry of Mines and Energy approved a total of 401 licences for mining of minerals for construction by the end of 2016 while granting 61 licences for mining exploration. It also provided 23 licences for industrial mining and 326 licences for artisanal mining.

MOST VIEWED

  • Rainsy will return at ‘favourable time’

    Opposition figure Sam Rainsy on Saturday suggested he would not return to Cambodia as he had previously promised, saying that like liberators King Father Norodom Sihanouk and Charles de Gaulle, he would only do so at a “favourable time”. “I will go back to Cambodia

  • Temi tourism project approved by the CDC

    The $500.4 million Tourism, Ecological, Marine and International (Temi) tourism project has been approved by the Council for the Development of Cambodia (CDC), according to a notice on its Facebook page on Monday. The project is part of Chinese-owned Union City Development Group Co Ltd’s (

  • US Embassy urged to stop ‘disrespecting sovereignty’

    The Ministry of Foreign Affairs and International Cooperation called on the US Embassy in Phnom Penh on Saturday to respect the Vienna Convention on Diplomatic Relations after it called former opposition leader Kem Sokha “an innocent man” – a move deemed to be “disrespecting Cambodia’s

  • NagaWorld casino sees net profit of more than $390M last year

    Phnom Penh’s NagaWorld casino posted a 53 per cent net profit increase last year at $390.6 million, a sum which is almost equal to the combined net profit of all Cambodian commercial banks in 2017. NagaWorld’s parent company, NagaCorp Ltd, is listed on the Hong Kong