Cambodia’s First Industrial Gold Mine Officially Operational, Expected to Produce 3 Tons Per Year

• 11 June 2021
• Local News
• 3378 Views

Cambodian Prime Minister Samdech Hun Sen has announced that Cambodia’s first industrial gold mining business in Mondulkiri will be officially operational from 21 June onwards, marking another major achievement for Cambodia.

Located in Okvau, Kaew Seima district in Mondulkiri province, this industrial gold mining business is operated by Renaissance Minerals (Cambodia) Limited, where the firm has spent more than 14 years conducting the study. (Read more)

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

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.

On another note, PM Hun Sen also urged locals to stop gold mining as a family business, as the activities are dangerous, and severely damage the environment.

• Energy and Environment