Today, Cambodia started the first gold refining in O’Khvav area, Keo Seima district, Mondulkiri province.
On the morning of June 21, 2021, the Royal Government of Cambodia, with the Ministry of Mines and Energy as an operator, celebrated the opening ceremony of the first gold refinery operation spearheaded by the Renaissance Minerals (Cambodia) Limited in O’Khvav, Mondulkiri Province. This first ever event was presided over by His Excellency Suy Sem, Minister of Mines and Energy as High Representative of Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of the Kingdom of Cambodia.
Please be informed that after spending nearly 14 years to explore and evaluate the economic yield of the mineral resources, Cambodia later announced the discovery of industrial gold ore resources in O’Khvav area, Keo Seima district, Mondulkiri province for the first time. Construction of the main facilities and essential infrastructures of the gold mines and refineries began in mid-2020 with a total investment of 120 million US dollars, then were completed and officially announced by Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of the Kingdom of Cambodia.
His Excellency Suy Sem mentioned that when the gold mine and refinery is operational, it has the capacity to extract nearly 2 million tons of crude ore per year then extract and transform into a 90 percent-gold gold nugget. It will employ a total of 462 workers including 427 Cambodians and 35 foreigners with the capacity to earn about 185 million US dollars per year, of which the national budget revenue from royalties and direct taxes is about 40 million US dollars.
His Excellency Minister stated that this is another new achievement born from the win-win policy of Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of the Kingdom of Cambodia, which has brought about peace, political stability and national unity as a necessary and indispensable factor in order to allow large-scale investment like in the mining sector.
It should be noted that the Head of the Royal Government of Cambodia, Samdech Techo Hun Sen, in a message to his compatriots regarding the announcement of the opening of the gold mining business and factory on June 10, 2021, stating that ‘Gold mining business is a business that needs professional investment and not everyone can develop it. The launch of the gold mining industry today is not an announcement to encourage the public to take up the gold mining business since it is a very risky business that requires a lot of capital and professional skills.’