Emerald makes inroads into Okvau development
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.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation