[XINHUA]
PHNOM PENH, March 9 -- Cambodia's Ministry of Industry, Mines and Energy had issued mineral resource exploratory licenses to 24 local and foreign companies in the past year.
According to the annual report of the ministry's mineral resources department released on Friday, the firms are mostly Cambodian-owned ones and those from China and Vietnam.
They have been exploring mineral resources including gold ore in provinces of Kratie, Ratanakiri, metallic ore and bauxite in Mondolkiri, Koh Kong and Stung Treng, lime mineral resources in Kampot, and coal mine in Kampong Thom, it said.
Speaking on Friday during the annual mineral resources conference, Suy Sem, Minister of Industry, Mines and Energy, advised his officials to work closely with those companies to ensure that their exploratory activities have been properly conducted in accordance to the laws.
"The development of mineral resources sector is one of the government's priorities. To attract investors, it is vital to strengthen partnership with investors and to strengthen the implementation of laws and agreements," he said.
Showing posts with label Mining. Show all posts
Showing posts with label Mining. Show all posts
March 9, 2012
Investment in mining operations falls sharply
[PHNOM PENH POST]
Guangxi Nonferrous Metal Group invested $21.95 million in the construction of a steel processing plant, the data shows. The Chinese company planned to invest as much as $500 million in Preah Vihear province, China’s state-owned Xinhua news agency reported in November.
China’s Xing Yuan Kang Yeak Co invested about $8.5 million in gold mining and Phu Yang Co, a Cambodian-Vietnamese joint venture, invested $800,000, according the data, which does not reveal the location of the projects.
New mining investment in Cambodia fell more than 71 per cent year over year in 2011, according to the data.
A $75 million investment in copper mining from Nim Meng Group, a Taiwanese-Cambodian joint venture, buoyed the 2010 figures.
Richard Stanger, president of the Cambodian Association for Mining and Exploration Companies, confirmed yesterday that international companies had reduced exploration in Cambodia as they developed other projects.
“There was a drop-off in exploration activity last year. Some companies were focusing on exploration in other countries,” Stanger said, adding that he expected signs of a turnaround this year.
Guangxi Nonferrous Metal Group invested $21.95 million in the construction of a steel processing plant, the data shows. The Chinese company planned to invest as much as $500 million in Preah Vihear province, China’s state-owned Xinhua news agency reported in November.
China’s Xing Yuan Kang Yeak Co invested about $8.5 million in gold mining and Phu Yang Co, a Cambodian-Vietnamese joint venture, invested $800,000, according the data, which does not reveal the location of the projects.
New mining investment in Cambodia fell more than 71 per cent year over year in 2011, according to the data.
A $75 million investment in copper mining from Nim Meng Group, a Taiwanese-Cambodian joint venture, buoyed the 2010 figures.
Richard Stanger, president of the Cambodian Association for Mining and Exploration Companies, confirmed yesterday that international companies had reduced exploration in Cambodia as they developed other projects.
“There was a drop-off in exploration activity last year. Some companies were focusing on exploration in other countries,” Stanger said, adding that he expected signs of a turnaround this year.
March 7, 2012
Thailand’s gem industry may move to Cambodia
[PHNOM PENH POST]
Cambodia could overtake Thailand’s gem export market to the United States within five years, officials said yesterday.
Thailand’s growing economic status could soon disqualify it for tax exemption when exporting gems to the US market, but Cambodia’s standing as a Least Developed Country would allow it to continue trading tax free.
“US officials have told me it will likely happen within the next five years,” said Cham Prasidh, senior minister at the Ministry of Commerce, referring to Thailand’s gem trade being taxed.
He said that the move would likely attract Thai traders to move their businesses to Cambodia.
Thailand’s growing economic status could soon disqualify it for tax exemption when exporting gems to the US market, but Cambodia’s standing as a Least Developed Country would allow it to continue trading tax free.
“US officials have told me it will likely happen within the next five years,” said Cham Prasidh, senior minister at the Ministry of Commerce, referring to Thailand’s gem trade being taxed.
He said that the move would likely attract Thai traders to move their businesses to Cambodia.
February 21, 2012
OZ sells assets in Cambodia
[PHNOM PENH POST]
OZ minerals announced yesterday it would sell its Cambodian gold assets to fellow Australian miner Renaissance Minerals for US$19.2 million.
The deal comes in the wake of a tumultuous 2011 for OZ, in which exploration yields proved disappointing and corruption allegations weighed heavily on the company’s Cambodian operations.
OZ will sell 100 per cent ownership of its exploration licences for its Okvau and O’Chhung concessions in Mondulkiri province, along with another unnamed licence and three joint-venture licences, for US$19.16 million in cash, shares and options in Renaissance, according to statements posted on the Australian Securities Exchange website.
The Okvau gold deposit held an established 729,000 ounces of gold, the statement said, as well as noting that the deal would make OZ the largest shareholder in Renaissance.
In addition, Renaissance will pay OZ another $24.2 million if gold is mined at the site.
OZ minerals announced yesterday it would sell its Cambodian gold assets to fellow Australian miner Renaissance Minerals for US$19.2 million.
The deal comes in the wake of a tumultuous 2011 for OZ, in which exploration yields proved disappointing and corruption allegations weighed heavily on the company’s Cambodian operations.
OZ will sell 100 per cent ownership of its exploration licences for its Okvau and O’Chhung concessions in Mondulkiri province, along with another unnamed licence and three joint-venture licences, for US$19.16 million in cash, shares and options in Renaissance, according to statements posted on the Australian Securities Exchange website.
The Okvau gold deposit held an established 729,000 ounces of gold, the statement said, as well as noting that the deal would make OZ the largest shareholder in Renaissance.
In addition, Renaissance will pay OZ another $24.2 million if gold is mined at the site.
January 26, 2012
Gold Mining in Cambodia: Attractive but Risky
That Cambodia has gold is one of the few things of which investors can be certain. The solid history of artisianal gold mining bears proof, as do the exploration efforts that are currently underway.
The country’s gold appears to be widely distributed. Commercial scale gold mining opportunities are often associated with northern Cambodia, which Southern Gold (ASX:SAU) described as emerging into a new gold province.
January 9, 2012
Chinese firm plans $500m investment
[PHNOM PENH POST]
China’s Julun International Holdings is planning a US$500 million joint venture in the Kingdom’s extractive and energy sectors with an as yet unnamed domestic partner, a Cambodian government official said.
Julun chairman Xie Henry led a group of delegates on Friday to meet with National Assembly president Heng Samrin, according to National Assembly cabinet director Kaom Kosal.
The investment is expected to be spread out over six years in Kampot and Preah Vihear provinces.
He did not disclose the details of Julun’s plan, as the company had not yet signed any agreement with a domestic partner or conducted a feasibility study.
Julun specialises in coal power plants and oil and gas extraction, Kaom Kosal said.
China’s Julun International Holdings is planning a US$500 million joint venture in the Kingdom’s extractive and energy sectors with an as yet unnamed domestic partner, a Cambodian government official said.
Julun chairman Xie Henry led a group of delegates on Friday to meet with National Assembly president Heng Samrin, according to National Assembly cabinet director Kaom Kosal.
The investment is expected to be spread out over six years in Kampot and Preah Vihear provinces.
He did not disclose the details of Julun’s plan, as the company had not yet signed any agreement with a domestic partner or conducted a feasibility study.
Julun specialises in coal power plants and oil and gas extraction, Kaom Kosal said.
December 16, 2011
Concerns over illegal mining
[PHNOM PENH POST]
A surge of illegal artisanal mining has raised concern among Battambang
provincial authorities as the mining activity encroached on the
environment and put miners’ lives in danger.
Local people in the province are rushing to open unlicensed, small-scale mines regardless of attempts to stop the practice, Cheu Chheang, director of Battambang’s Ministry of Industry, Mine and Energy, told the Post.
“It’s difficult to control. We have cracked down on it many times but they still do it when we leave the area,” he said, adding that the only authorised miners in the area were with a Chinese company.
As the price of gold remains high, artisanal mining has become common place in Phnom Preuk district, Governor Soun Keun said. More than 100 illegal operations strew the hill sides in the area, up from only a handful the year before.
Local people in the province are rushing to open unlicensed, small-scale mines regardless of attempts to stop the practice, Cheu Chheang, director of Battambang’s Ministry of Industry, Mine and Energy, told the Post.
“It’s difficult to control. We have cracked down on it many times but they still do it when we leave the area,” he said, adding that the only authorised miners in the area were with a Chinese company.
As the price of gold remains high, artisanal mining has become common place in Phnom Preuk district, Governor Soun Keun said. More than 100 illegal operations strew the hill sides in the area, up from only a handful the year before.
November 19, 2011
Chinese metal firm to invest 500 mln U.S. dollars in Cambodia
[XINHUA]
PHNOM PENH, Nov. 18 -- China's Guangxi Nonferrous Metal Group has planned to invest 500 million U.S. dollars in a steel plant and an industrial zone in Cambodia in the next three years, Yang Daoxi, vice chairman of Guangxi Zhuang Autonomous Region, said on Friday.
Yang made the announcement during a meeting with Cambodian Minister of Industry, Mine and Energy Suy Sem.
He said the Guangxi Nonferrous Metal Group had already invested 30 million U.S. dollars in exploring iron ore in Roveang district of Preah Vihear province in northern Cambodia and the exploration had successfully completed.
"Now, it is the phase of iron ore exploitation and the firm is to build a steel plant and later an industrial park in Cambodia," he said. "My visit is to ask for full support from the ministry in order to find a proper location to build the plant."
PHNOM PENH, Nov. 18 -- China's Guangxi Nonferrous Metal Group has planned to invest 500 million U.S. dollars in a steel plant and an industrial zone in Cambodia in the next three years, Yang Daoxi, vice chairman of Guangxi Zhuang Autonomous Region, said on Friday.
Yang made the announcement during a meeting with Cambodian Minister of Industry, Mine and Energy Suy Sem.
He said the Guangxi Nonferrous Metal Group had already invested 30 million U.S. dollars in exploring iron ore in Roveang district of Preah Vihear province in northern Cambodia and the exploration had successfully completed.
"Now, it is the phase of iron ore exploitation and the firm is to build a steel plant and later an industrial park in Cambodia," he said. "My visit is to ask for full support from the ministry in order to find a proper location to build the plant."
November 1, 2011
Brighton Mining Group to raise A$600,000 for Cambodian gold exploration
The company expects to issue the notes over the next month and will be convertible into ordinary shares at any time over a one-year period from date of issue.
The conversion price is $0.15 per note and interest at the rate of 10% per annum will accrue on all unconverted notes.
October 26, 2011
High-grade gold value found in Ratanakkiri
[PHNOM PENH POST]
Angkor Gold Corp, a Canada-based mining company, has announced promising results from exploration drilling which showed the presence of gold, silver and copper at a Ratanakkiri province mine. The results from two 300-metre holes at the company’s site in the province’s Banlung district showed high-grade gold value, according to a company statement. Exploration at the site was in its initial stages and the thickness of drill samples could not be assessed with certainty, the announcement noted. The company claims to have three exploration licenses covering some 1,500 square kilometers in the Kingdom.
Angkor Gold Corp, a Canada-based mining company, has announced promising results from exploration drilling which showed the presence of gold, silver and copper at a Ratanakkiri province mine. The results from two 300-metre holes at the company’s site in the province’s Banlung district showed high-grade gold value, according to a company statement. Exploration at the site was in its initial stages and the thickness of drill samples could not be assessed with certainty, the announcement noted. The company claims to have three exploration licenses covering some 1,500 square kilometers in the Kingdom.
October 12, 2011
Mining production only five years away
[PHNOM PENH POST]
A key individual in the development of Cambodia’s mining industry says
gold and copper production is possibly about five years away in Cambodia
and will put significant revenue into Cambodian pockets and government
coffers, some of which he hopes will be used for education and social
development.
“Within five years you’ll most likely see production. The first would most likely be gold and copper, they are often associated,” said Australian Richard Stanger, 53, the founding President of CAMEC, the Cambodian Association for Mining and Exploration Companies. CAMEC has both mining exploration companies as well mining service company members.
“Within five years you’ll most likely see production. The first would most likely be gold and copper, they are often associated,” said Australian Richard Stanger, 53, the founding President of CAMEC, the Cambodian Association for Mining and Exploration Companies. CAMEC has both mining exploration companies as well mining service company members.
October 7, 2011
Glittering promises still need to be kept
[PHNOM PENH POST]
ASTRA Mining’s claims of gold bonanzas in June were greeted with disbelief by Cambodia’s mining community. But a claim that the company will deliver gold for shareholders within a year has been met with even greater incredulity.
And rightly so. OZ Minerals, a tested if somewhat troubled international company, began its Cambodian operations in 2006 but has yet to extract an ounce of gold from its allegedly gold-rich concession in Mondulkiri province.
Astra, of course, is the Aust-ralian firm that first entered the Kingdom’s mining sector last spring, announcing the intention to buy a potentially significant gold concession in the O’Yadao district of Ratanakkiri province.
The company was unknown to Cambodian operat-ors, however, and a report in the Sydney Morning Herald dredged up Astra CEO Jaydeep Biswas’s allegedly questionable past.
ASTRA Mining’s claims of gold bonanzas in June were greeted with disbelief by Cambodia’s mining community. But a claim that the company will deliver gold for shareholders within a year has been met with even greater incredulity.
And rightly so. OZ Minerals, a tested if somewhat troubled international company, began its Cambodian operations in 2006 but has yet to extract an ounce of gold from its allegedly gold-rich concession in Mondulkiri province.
Astra, of course, is the Aust-ralian firm that first entered the Kingdom’s mining sector last spring, announcing the intention to buy a potentially significant gold concession in the O’Yadao district of Ratanakkiri province.
The company was unknown to Cambodian operat-ors, however, and a report in the Sydney Morning Herald dredged up Astra CEO Jaydeep Biswas’s allegedly questionable past.
October 4, 2011
Astra Resources secures Cambodian gold mine
[NewsMaker.com]
Adelaide, Australia – 4 October 2011: International diversified resources company, Astra Resources, has finalised negotiations with the Vietnamese Nam Hai Group to secure 100 per cent of the Ratanakiri Gold Project in northeast Cambodia.
The deal has been facilitated through their wholly owned subsidiary Astra Mining and their minor partner, Petone Mining Asia, for the 222 square kilometre site.
A 10 per cent deposit has been paid for the gold mine and settlement is due to take place within two months.
The deal has been facilitated through their wholly owned subsidiary Astra Mining and their minor partner, Petone Mining Asia, for the 222 square kilometre site.
A 10 per cent deposit has been paid for the gold mine and settlement is due to take place within two months.
September 20, 2011
Mining M&A: Brighton grows in Mondulkiri
[PHNOM PENH POST]
MINING concession buy-outs will make Brighton Mining Limited one of the Kingdom’s largest miners by concession size in Cambodia’s Mondulkiri province, according to a company statement issued yesterday.
Brighton, an ASX-listed company, has completed negotiations with Summer Gold Investment Pty Limited for mining concessions in Mondulkiri and Ratanakiri provinces. The acquisition will give the company one of the largest holdings in Mondulkiri province, according to the statement.
The new Mondulkiri concession will adjoin a previously held concession in the Antrong area, the statement said.
New York-based SpringTree Special Opportunities Fund announced in May that it would invest US$5.8 million in equity funding for Brighton’s Antrong concession, the Post previously reported. Brighton began test drilling for gold in Antrong in January. Although Brighton said it was in negotiations for other concessions, the announcement did not give company names or regions. Brighton Managing Director Jonathan Remta and Cambodian Association of Mining and Exploration Companies president Richard Stanger were not immediately available for comment.
MINING concession buy-outs will make Brighton Mining Limited one of the Kingdom’s largest miners by concession size in Cambodia’s Mondulkiri province, according to a company statement issued yesterday.
Brighton, an ASX-listed company, has completed negotiations with Summer Gold Investment Pty Limited for mining concessions in Mondulkiri and Ratanakiri provinces. The acquisition will give the company one of the largest holdings in Mondulkiri province, according to the statement.
The new Mondulkiri concession will adjoin a previously held concession in the Antrong area, the statement said.
New York-based SpringTree Special Opportunities Fund announced in May that it would invest US$5.8 million in equity funding for Brighton’s Antrong concession, the Post previously reported. Brighton began test drilling for gold in Antrong in January. Although Brighton said it was in negotiations for other concessions, the announcement did not give company names or regions. Brighton Managing Director Jonathan Remta and Cambodian Association of Mining and Exploration Companies president Richard Stanger were not immediately available for comment.
September 19, 2011
Brighton Mining Group to acquire Cambodian gold mining assets
These include the interest of BML in the Cambodian concessions held by Summer Gold Investments Pty Ltd at Ratanakari and at Mondulkiri, the latter of which adjoins the company’s concession comprising the Sun Hill Joint Venture at Antrong.
In addition the company will also secure other prospective areas presently being acquired by BML.
September 13, 2011
New mining player aims for quick exports
[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.
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.
September 2, 2011
Digging deep outside the law
[PHNOM PENH POST]
Flat-nosed shovels scrape muddy rock from a mining cart into the bed of a
Russian-built truck. Two Cambodian miners apply buckets of water to the
shiny fragments of stone under the direction of a Chinese technician.
Twenty metres away, men appear from a hole in the earth, the entrance to
the China-Cambodia Company gold mine, which has reportedly operated for
six years in the remote village of Prey Meas, Mondulkiri province.
The legal standing of mines such as this is shrouded in ambiguity, industry experts said, and contradictions concerning the name, origin and status of several of the country’s mines are rife.
Weak enforcement of mining laws excludes local communities from the decision-making process and smudges the revenue transparency, said George Boden, a campaigner at watchdog group Global Witness.
The legal standing of mines such as this is shrouded in ambiguity, industry experts said, and contradictions concerning the name, origin and status of several of the country’s mines are rife.
Weak enforcement of mining laws excludes local communities from the decision-making process and smudges the revenue transparency, said George Boden, a campaigner at watchdog group Global Witness.
July 18, 2011
Indochine Mining Limited Intersects Gold Mineralisation in Cambodia
Sydney -- Indochine Mining Limited (
ASX:IDC)
has intersected gold mineralisation across a wide interval from the
first hole of a drilling program at its 100%-owned Kratie North project
in central Cambodia.
Initial results returned 0.3 grams per tonne gold extending over 200 metres with 0.5 - 2.6 grams per tonne gold at a number of 1-2 metres intervals. Further results are expected in the next two weeks.
The company recently completed its maiden 16-hole program totalling 2216 metres of diamond drill core over three main targets at Kratie North. Best results from the first hole included:
- 8 metres at 1.1 grams/tonne gold (252-260m, KOC001)
- 9 metres at 1 gram/tonne gold (365-374m, KOC001), both within the zone of:
- 200 metres at 0.3 grams/tonne gold (240m-440m end of hole), ending in mineralisation.
Pyrite and pyrrhotite mineralisation were intersected in the first hole and in five other holes over a lateral distance of 400 metres over the main target, identified by a geophysical (IP) and gold-in-soil geochemical anomaly. Partly altered sediments and intrusives, which host the mineralisation, indicate a potential disseminated gold or gold-copper sulphide target.
Two other targets nearby were tested with ten drillholes positioned along a geophysical trends associated with gold-bearing quartz veins at surface. Indications from drillcore are promising. Results are expected soon.
At Ratanakiri, in northern Cambodia, results from re-assaying of a large stream sediment sampling program will enable the exploration program over the best gold and copper targets. No systematic modern exploration has previously occurred in the Ratanakiri area.
Despite the region's renown for hosting several world-class gold and copper deposits, Cambodia has undergone very limited modern exploration, until recently. Indochine has the largest package of gold and copper leases in Cambodia, spanning in excess of 4000km2.
For the complete Indochine Mining announcement including figues and tables, please refer to the following link: http://www.abnnewswire.net/media/en/docs/641048.pdf
ASX:IDC)
has intersected gold mineralisation across a wide interval from the
first hole of a drilling program at its 100%-owned Kratie North project
in central Cambodia.Initial results returned 0.3 grams per tonne gold extending over 200 metres with 0.5 - 2.6 grams per tonne gold at a number of 1-2 metres intervals. Further results are expected in the next two weeks.
The company recently completed its maiden 16-hole program totalling 2216 metres of diamond drill core over three main targets at Kratie North. Best results from the first hole included:
- 8 metres at 1.1 grams/tonne gold (252-260m, KOC001)
- 9 metres at 1 gram/tonne gold (365-374m, KOC001), both within the zone of:
- 200 metres at 0.3 grams/tonne gold (240m-440m end of hole), ending in mineralisation.
Pyrite and pyrrhotite mineralisation were intersected in the first hole and in five other holes over a lateral distance of 400 metres over the main target, identified by a geophysical (IP) and gold-in-soil geochemical anomaly. Partly altered sediments and intrusives, which host the mineralisation, indicate a potential disseminated gold or gold-copper sulphide target.
Two other targets nearby were tested with ten drillholes positioned along a geophysical trends associated with gold-bearing quartz veins at surface. Indications from drillcore are promising. Results are expected soon.
At Ratanakiri, in northern Cambodia, results from re-assaying of a large stream sediment sampling program will enable the exploration program over the best gold and copper targets. No systematic modern exploration has previously occurred in the Ratanakiri area.
Despite the region's renown for hosting several world-class gold and copper deposits, Cambodia has undergone very limited modern exploration, until recently. Indochine has the largest package of gold and copper leases in Cambodia, spanning in excess of 4000km2.
For the complete Indochine Mining announcement including figues and tables, please refer to the following link: http://www.abnnewswire.net/media/en/docs/641048.pdf
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