MACA wins $230m Cambodia contract
PERTH (miningweekly.com) – Gold developer Emerald Resources has awarded a $230-million mining contract to fellow-listed MACA for its Okvau gold project, in Cambodia.
The scope of work under the mining contract will include load, haul, drill and blast services, and would run for an initial seven-year term with the option to extend.
Mobilisation to the site is expected to start in August this year, and operations will start in October.
“We are extremely pleased to have appointed MACA as the mining contractor for the Okvau gold project operations, which continues the existing relationship between the Emerald and MACA management teams,” said Emerald MD Morgan Hart.
“The signing of the mining contract follows a thorough and collaborative process with both teams in finalising the mining schedule for the development and operation of the Okvau gold project. The signing of the mining contract gives us greater confidence to achieve our goal of becoming the first modern large-scale Cambodian gold producer by the second quarter of 2021.”
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.
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