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Deadly Collision Claims 67 Lives in U.S. Air Disaster | At Least 30 Dead and Many Injured in Stampede at Maha Kumbh Mela in India | Chinese President Xi Jinping Affirms Cambodia's Role as a Key Partner in China’s Diplomatic Strategy | Xi Jinping Concludes State Visit to Cambodia, Strengthening Bilateral Ties | Chinese President Xi Jinping Concludes Successful State Visit to Cambodia | Chinese Ambassador: US-China Trade Tensions Harm Developing Nations; President Xi Urges Investment in Cambodia and Expanded Market Access | Japanese Maritime Self-Defense Force Ships Bungo and Etazima Dock at Ream Sea Base for Four-Day Visit | Prime Minister Hun Manet Expresses Displeasure Over Criticism of Chinese Investments During Kampot International Tourist Port Inauguration | Asian Development Bank Collaborates with Cambodia on New Development Projects Worth Over $1 Billion |

Golden Boost for Cambodian Economy

  • Posted Jun 11, 2021 10:14 by Lundy
  • 1379
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Phnom Penh : Cambodia will begin industrial-scale gold mining on 21 June, in what is a huge boost for the economy. The announcement was made last night by Prime Minister Hun Sen. He says the country’s first industrial gold mine will begin official operations in the O’ Kvav region of Mondulkiri after 14 years of exploration and feasibility studies.

The Prime Minister says the mine is expected to add about $185-million a year to the national treasury, which will be used for social and economic development.

It was on Thursday that Renaissance Minerals (Cambodia) Ltd. produced Cambodia’s first semi-finished gold bars, otherwise known as “gold dore”. The Prime Minister says the gold dore bars contain 90% pure gold, making them much purer than standard gold dore bars, which typically have a purity of between 50 and 75%. The bars are then refined further before being used as a raw material to produce gold items.

Renaissance Minerals is a subsidiary of Australia-listed Emerald Resources NL and says it aims to produce three tonnes of pure gold every year for the first eight years of operations.

Prime Minster Hun Sen considers this first gold mine as a model for future mineralisation in Cambodia that will contribute to sustainable development, but he has warned any future operators that technical mineral manufacturing must be sustainable and environmentally-friendly, saying underqualified operations will not bring about any benefits and could cause accidents and environmental harm.

The Prime Minister has expressed his pride in Cambodia becoming a “golden country” and has praised the teams behind what he’s called a “historic achievement”.

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