https://www.miningweekly.com
Construction|Gold|Mining|Power|PROJECT|Resources|Road|Services|Equipment
Construction|Gold|Mining|Power|PROJECT|Resources|Road|Services|Equipment
construction|gold|mining|power|project|resources|road|services|equipment

Emerald makes inroads into Okvau development

30th January 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Gold developer Emerald Resources has signed a memorandum of understanding (MoU) with fellow-listed MACA to supply equipment and contract mining services for the Okvau gold project, in Cambodia.

The MoU was subject to a final investment decision to develop the project, but the scope of work under the mining contract will include load, haul, drill and blast. The initial term of the contract is currently seven years, with an option to extend, and would see some $220-million in revenue for MACA.

Emerald on Wednesday told shareholders that it was in discussions with a number of potential financiers to help develop the Okvau project.

The completion of the financing will be subject to lender due diligence, formal documentation and credit approvals.

Meanwhile, the power line to supply grid power to the project is well advanced, and with the execution of an MoU expected shortly, the project is confirmed to have power availability by December this year.

Furthermore, negotiations for the construction of the access road were also nearing completion.

The Okvau project is expected to require a capital investment of $98-million to develop a two-million-tonne-a-year operation delivering about 106 000 oz of gold, over an initial mine life of seven years.

Edited by Creamer Media Reporter

Comments

Showroom

SBS Tanks
SBS Tanks

SBS® Tanks is a leading provider of innovative water security solutions with offices in Southern Africa, East and West Africa, the USA and an...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.104 0.14s - 92pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: