Cambodia’s First Commercial Gold Mine Officially Goes Online

• Sommana Yan
• 21 June 2021
• Uncategorized
• 4397 Views

Renaissance Minerals (Cambodia) officially started production of gold extraction in the Okvoa area of Mondulkiri province on Monday 21 June, marking Cambodia’s first industrial-sized gold mine operation.

The official ceremony of the gold extraction was presided over by Minister of Mines and Energy HE Suy Sem.

Renaissance Minerals (Cambodia), an Australia-listed Emerald Renaissance subsidiary, has launched commercial gold mining after 14 years of study in Cambodia.

The geographical factors in Okvau will allow the firm to produce a semi-finished gold with 90% purity. The firm expects to produce 3 tons of gold per year for the first 8 years, with the aim to increase production afterwards.

According to the Ministry of Mines and Energy, since Cambodia does not yet have gold refinery plants, gold extracted from the Okvoa area will be exported to Singapore and Australia for the refinery process.

The gold production is expected to generate an average gross revenue of US$185 million per year, of which Cambodia will also earn US$40 million per year in royalties and taxes.

• Energy and Environment