Cambodia sitting on yellow mine, 1.7 tonnes of gold ore extracted

Cambodia sitting on yellow mine, 1.7 tonnes of gold ore extracted

Renaissance Minerals (Cambodia) extracted 1,751 kg of gold ore as of earlier February, reaching nearly full capacity of gold extraction.

Prime Minister Hun Sen yesterday said that in the seven month extraction operation, the company is now extracting at average 80 to 100 kg per week. In other words, the company is extracting to its full capacity of 250 kg per month or 3,000 kg per year.

“Gold ore extracted in Mondulkiri province, we refined 1,751 kg,” he said. “On an average, we refine between 80 kg to 100 kg per week, the amount is increasing.”

Last June, Renaissance Minerals (Cambodia), the Australia-listed Renaissance, started a commercial gold refinery factory located in Mondulkiri province’s Keo Seima district. The company plans to refine an estimated three tonnes of gold ore every year for the first eight years of the mine’s operation.

The company ships the gold ore to Australia for 99.99 percent purification.

The gold price in Australia by yesterday was $58,241 per kg, according to the KITCO, one of the world’s online retailers and full-service providers of precious metal in the world.

Addressing the audience in Kratie on Monday, Mr Hun Sen said the achievements of Cambodia’s natural resources are only a small part of the northeast region currently.

“[Mineral resources] we have not yet researched. We still have other minerals such as coal, other sorts of mines, and other gold mines not tapped,” Mr Hun Sen said.

He said the northeastern region is an agro-industrial and mineral resource area that is the fourth economic pole of Cambodia after the first economic pole – Phnom Penh, the second economic pole – Sihanoukville and the third economic pole – Siem Reap.

Mines Ministry’s Mineral Resources director-general Ung Dipola said recently that three or four companies are expected to start entering into the commercial gold refinery process this year in Cambodia.

Three companies from China plan to start gold extraction in Preah Vihear province, Kratie province, and Mondulkiri province, he said.

Mesco Gold from India is processing for entering the gold refinery process in Ratanakiri province, where the firm has spent years exploring gold mines.

Renaissance Minerals (Cambodia) is also in the process of exploring in a new licensed area located in Memot district, Tbong Khmum province.

The Australian company received a three-year mineral exploration permit from the Ministry of Mines and Energy in January last year to study 107 sq km of land in Memot district. Khmer Times