Logo of Phnom Penh Post newspaper Phnom Penh Post - Renaissance Minerals says it will extract gold next year

Renaissance Minerals says it will extract gold next year

Content image - Phnom Penh Post
Renaissance Minerals (Cambodia) Ltd announced that it will begin extracting gold next year in Mondulkiri province. POST STAFF

Renaissance Minerals says it will extract gold next year

Renaissance Minerals (Cambodia) Ltd, a subsidiary of Australia-listed Emerald Resources NL, is set to become the first large-scale mining operation in the Kingdom, Ministry of Mines and Energy official Yos Monirath said on Thursday.

He told The Post that after more than a decade of on-site exploration in Mondulkiri province, the company announced it will begin extracting gold next year.

Monirath, who is director-general of the ministry’s General Department of Mineral Resources, said the gold will be exported and processed into 99.99 per cent pure gold for sale on the market.

“The gold the company extracts can only be processed into raw gold bars here. It must be exported because we are not able to process it into 99.99 per cent purity,” he said.

Renaissance Minerals is currently building a processing plant capable of producing 2.8 million tonnes of raw gold bars per annum, an annual ministry report said on Tuesday.

Finnish-listed mining technology company Outotec Oyj was awarded a contract by Renaissance Minerals to deliver processing equipment to the greenfield Okvau Gold Project in the province’s Keo Seima district.

Project commissioning is expected in the second quarter of next year, Outotec said in a press release on Wednesday.

“We are pleased to be part of Cambodia’s first significant gold processing project with Emerald’s highly credentialed gold project development team.

“Outotec’s leading technologies such as energy efficient ultrafine grinding, proven flotation technology for low grade sulphide ore and superior thickening technology, enable our customer to do profitable business sustainably.

“This order will strengthen Outotec’s position as a supplier of advanced minerals processing technologies in Southeast Asia,” the release quoted Outotec’s Minerals Processing business unit acting president Paul Sohlberg as saying.

In November, Emerald Resources managing director Morgan Hart said Renaissance Minerals is in the process of developing a gold mine in the Okvau area in Mondulkiri province.

“We are pleased to cooperate with all parties, as we are in the process of developing the project, which is designed to be one of the largest and most modern gold mining projects in Cambodia.

“We will set a standard for responsible mineral development in Cambodia that everyone is proud of,” he said.

Monirath said the government granted the company an industrial mining licence in July, which covers 11.5sq km at the Okvau Gold Project.

The licence is valid for 15 years and can be extended for 10 more years twice, he said. The ministry has issued such licenses to some 37 companies, which are exploring in four provinces – Mondulkiri, Ratanakkiri, Kratie and Stung Treng.

MOST VIEWED

  • Massive stingrays may live in Mekong’s deep pools

    US scientists have suggested that unexplored deep pools in the Mekong River in an area of Stung Treng could potentially be home to significant populations of giant freshwater stingrays, one of the world’s largest freshwater fish species. This comes as a fisherman hooked a 180

  • CCC team off on US business trip

    The Kingdom’s leading economists and private sector representatives have called on the US to renew its tax preferential status for Cambodian exports, as a Cambodia Chamber of Commerce (CCC) delegation departed for a weeklong business visit to the US, where they will meet with

  • PM takes time to meet, greet Cambodians living in the US

    After landing in the US ahead of the ASEAN-US Special Summit, Prime Minister Hun Sen was received by over 1,000 Cambodian-Americans including political analysts who welcomed him with greetings, fist bumps and selfies. Hun Sen also met with analyst Mak Hoeun, who had allegedly spoken ill

  • Khmer cinema classics back on big screen for free at WB Arena’s outdoor movies series

    On a recent Saturday evening at WB Arena, Bunsong was enjoying a tasty BBQ meal with his family after work on the long tables that had been arranged out in front of the restaurant as they watched a Khmer action movie on a big outdoor

  • PM heads to Washington for ASEAN-US special summit

    Regional and international issues and how to bring the ASEAN-US partnership to another level will be discussed at length as Prime Minister Hun Sen and his ministers arrive in Washington, DC, for a special summit on May 12-13. During the trip, Hun Sen and ASEAN

  • National Assembly refutes EU resolution

    The National Assembly (NA) has hit back at a European Parliament resolution condemning the political and human rights situation in Cambodia, calling it another display of the Parliament’s “double standards”. Key points of the resolution include a warning that the Parliament could exclude the