Cambodia has taken a significant step toward advancing its mineral resources sector, with the Ministry of Mines and Energy formally approving a new investment agreement for the long-anticipated Memot gold project in Tbong Khmum province. The deal, signed on November 17 under the leadership of Minister Keo Rottanak, authorises Renaissance Minerals (Cambodia) Ltd to transition the project from exploration to full commercial development.
The approval positions Memot as the country’s next major gold operation and a strategic complement to the Okvau mine in Mondulkiri. With this milestone, Cambodia strengthens its emerging gold industry and reinforces its commitment to responsibly harnessing natural resources for national development.
Rottanak said the agreement reflects the government’s determination to convert geological potential into long-term economic value. “This agreement is about accelerating responsible growth and ensuring that the full value of these resources supports our national progress,” he noted.
Renaissance Minerals — a subsidiary of Australia-listed Emerald Resources — has conducted extensive exploration at the Choam Ta Mao commune site for several years. Ministry figures indicate the project holds an estimated 26 tonnes of gold, with planned annual production of about 3 tonnes over a projected seven-year mine life. This scale would make Memot Cambodia’s second-largest gold producer after Okvau.
According to Rottanak, the mine is expected to generate around 500 local jobs, while state revenue from royalties, taxes, and other obligations is projected to reach approximately USD 583 million during its operational period.
The newly signed agreement follows prior government approvals for the project’s environmental and industrial mining licences, paving the way for construction to commence and marking a new phase in Cambodia’s growing minerals industry.
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