Cambodia set to explore huge copper reserves
Wednesday, 3 November 2010
PHNOM PENH, Nov 2 (Commodity Online): In a significant development, Cambodia Tuesday said it is considering licenced exploration of a 13-million-tone copper resource in Siem Reap province.
According to country's commerce ministry, a decision on the exploration permit was due next week on the area that contains 1,000-year-old historically protected sites.
He said huge iron resources were found in Preah Vihear and huge copper resources were found in Siem Reap. This copper could be three times what you see in Laos, 13 million tones is possible over the next 50 years.
The only problem was the presence of protected historical sites, some of which, he said, were 1,000 years old, which could be affected by mining.
He also detailed potential revenues from ongoing extraction projects, stating that the government would draw $700 million a year from Chevron-controlled Block A, an offshore oil concession in the Gulf of Thailand that the minister said had been given a production deadline of December 12, 2012.
According to country's commerce ministry, a decision on the exploration permit was due next week on the area that contains 1,000-year-old historically protected sites.
He said huge iron resources were found in Preah Vihear and huge copper resources were found in Siem Reap. This copper could be three times what you see in Laos, 13 million tones is possible over the next 50 years.
The only problem was the presence of protected historical sites, some of which, he said, were 1,000 years old, which could be affected by mining.
He also detailed potential revenues from ongoing extraction projects, stating that the government would draw $700 million a year from Chevron-controlled Block A, an offshore oil concession in the Gulf of Thailand that the minister said had been given a production deadline of December 12, 2012.