[PHNOM PENH POST]
A KUWAITI-owned mining company has claimed its new Cambodian joint
venture will generate iron ore and gold exports within two years of
launch, though experts yesterday questioned the likelihood such a
deadline could be met.
PIMA-D&D International Ltd, a joint
venture between Cambodia-based D&D Pattnaik Group and Kuwaiti Pima
International, will invest between US$10 million and $15 million in gold
and iron ore mines in Cambodia, Vice Chairman and CEO Debasish Pattnaik
said yesterday. While he declined to specify the mines’ exact locations
other than saying they were in northeastern Cambodia, some media
reports said the mines were in Kampong Chhnang, Kratie and Mondulkiri
provinces.
Debasish Pattnaik noted the company was due to begin
operations in October. He claimed PIMA-D&D International Ltd was
committed to extracting and exporting gold and iron ore by late 2013.
However, the deadline would be contingent on feasibility and
environmental impact studies, which the company expects to take up to
six months, he said.
“Exploration licenses give us a window of
six years, but I believe with our expertise we can begin within two
years,” he said, referring to Pima International’s prior mining
experience in Africa. PIMA-D&D would be one of the first mining
companies to export Cambodia’s gold and iron, he claimed.
But
such a quick turnaround could be difficult, said Cambodian Association
of Mining and Exploration Companies president Richard Stanger yesterday.
Feasibility and environmental impact studies, followed by exploitation
licensing, may require more time, he said.
Cambodia has yet to
see exploitation due to the country’s dearth of value-added processing,
according to Debasish Pattnaik. As a result, PIMA-D&D will also
build washery facilities for resource processing, in addition to the
company’s two mining sites, he said. “Many [companies] have exploration
licenses but they are waiting for other people to do it for them,” he
said. "They don’t have the skill needed to exploit, and there is no
value-added [facilities] in the country. I have seen the villagers
[washing ore] by hand.”
PIMA-D&D expects to exploit three
grams of gold per tonne of ore and 80 million to 100 million tonnes of
iron ore from its mines, he said.
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