Minister of MME Champions Sustainable Practices in Issuing Mining Licenses

The Ministry of Mines and Energy has declared its commitment to prioritising environmental conservation principles before issuing mining licenses to private companies. During a recent meeting with stakeholders in the mining sector, HE Keo Rattanak, the Minister of Mines and Energy, emphasised the ministry’s stand to strike a delicate balance between conservation efforts and industrial development.

HE Keo Rattanak underscored the importance of upholding environmental standards, royalties, and tax compliance even within Cambodia’s free-market economy. He articulated, “I do not want to see all the mountains scattered because all the mountains have historical value, some mountains have cultural value, some mountains have ecological tourism.”

To ensure the implementation of these conservation principles, the minister assigned the General Department of Mines to collaborate with the Department of Mines and Energy, as well as the Department of Culture and Fine Arts and the Department of Tourism, in overseeing mountain conservation initiatives across Cambodia.

This strategic decision aligns with the broader vision of creating a sustainable and ecologically responsible mining sector. The ministry’s commitment to safeguarding natural landscapes reflects a holistic approach, fostering a balance between economic progress and environmental preservation.

- Video Advertisement -

Related Post

Cambodia Officially Withdraws from CLV Development Triangle, Focuses on National Infrastructure Projects

Cambodia has officially announced its withdrawal from the Cambodia-Laos-Vietnam Development Triangle Area (CLV-DTA), marking a shift in its regional development strategy. The decision was formalised through the promulgation of the Law on the Approval of the Agreement on the Promotion and Facilitation of Trade in the CLV-DTA and will take effect upon the completion of […]

Mondulkiri Authorities Launch Extensive Crackdown on Illegal Mining with 56 Sites Targeted

In an intensive crackdown spanning just three days, from 3 to 5 November 2024, the Mondulkiri Provincial Department of Mines and Energy, together with other local authorities, successfully intervened at 56 locations identified for illegal mining operations across Mondulkiri province. This major operation underscores Cambodia’s growing commitment to regulate mining activities and protect its natural […]

Cambodian Gov’t Extends Stamp Duty Exemption on Homes Up to USD 70,000 Until End of 2025

The Ministry of Economy and Finance has announced an extension of the stamp duty exemption for transferring ownership or possession of all types of borey housing valued at USD 70,000 or less, continuing this benefit until the end of 2025. This initiative aims to stimulate the real estate market by offering substantial tax relief to […]

Tycoon Ly Yong Phat’s Hydropower Company Suspended for Environmental Violations in Pursat & Koh Kong

The Ministry of Environment has temporarily suspended all activities of Stung Meteuk Hydropower, a company owned by Tycoon Ly Yong Phat, in Pursat and Koh Kong provinces due to multiple environmental violations and non-compliance with legal requirements. The suspension was confirmed in a letter from the ministry dated 2 September 2024. The decision stems from […]

South Korea’s Mugungwha Trust Targets Investment in Cambodia’s Expanding Trust Sector

Mugungwha Trust Co., Ltd., a leading South Korean trust company, has announced plans to invest in Cambodia’s trust sector, aiming to contribute to the country’s economic growth and sector expansion. The company’s President, Mr. Oh Chang-seok, expressed this commitment during a meeting with Samdech Techo Hun Sen on 10 September 2024 in Seoul, Republic of […]

GDT Sets Property Tax Deadline for 30 September 2024

The General Department of Taxation (GDT) has reminded all property owners to fulfil their property and land tax obligations by 30 September 2024. The announcement, made on 31 July 2024, , emphasises the critical importance of meeting this deadline to ensure a smooth tax collection process. To facilitate efficient tax payments, the GDT encourages property […]