On 17 November 2025, the Ministry of Mines and Energy signed two new Mining Investment Agreements with Renaissance Minerals (Cambodia) Limited, under authorisation from the Royal Government of Cambodia. These agreements expand ongoing gold mining activities and are expected to deliver significant national benefits through increased production, government revenue, and job creation. Together, the new projects in Mondulkiri and Tbong Khmum provinces are expected to contribute more than USD 1.5 billion in government revenue and create hundreds of new jobs for Cambodians.
Under the first agreement, the Okvau project in Keo Seima district, Mondulkiri Province, will expand into an underground mining phase. This development adds an estimated 10 tons of gold to the existing 34-ton reserve and is expected to generate approximately USD 1 billion in government revenue through royalties and other taxes.
A second agreement establishes a new gold mining project in the Cham Tamau area of Memot district, Tbong Khmum Province. Studies have confirmed an economically viable deposit of around 26 tons, with a projected seven-year open-pit operation that is expected to generate an estimated USD 583 million in national revenue and create around 500 new jobs.
Speaking at the signing ceremony, the Minister, H.E. Keo Rottanak, emphasised the importance of responsible development for the country’s future, stating:
“Whenever we talk about mining, what we are really talking about is a chain of decisions that affect people, land, and long-term prosperity… We are treating governance, community partnership and environmental responsibility as one ecosystem, not three separate debates. In a modern mining sector, they rise or fall together. By taking this approach, this new stage of gold development will strengthen both our economy and our nation for decades to come.”
These new agreements build on the progress of the Okvau project, which received its first Mining Investment Agreement in 2019. Since commercial operations began in 2021, Okvau has produced approximately 16 tons of gold and contributed about USD 27.3 million in royalties to the state, in addition to other tax revenues. The project currently employs 697 people, including 645 Cambodian workers.
Renaissance Minerals (Cambodia) Limited has also provided ongoing community and social support, contributing USD 50,000/year to community development funds and has participated in various social activities. These include planting over 100,000 trees in the major tourism target area at Phnom 1500 in Veal Veng district, Pursat Province; building water wells for local communities; supplying educational materials to schools; supplying tree seedlings to schools for nurseries for later use in mine-site rehabilitation.
The Ministry of Mines and Energy remains committed to promoting responsible investment, sustainable resource development, and cooperative partnerships that generate long-term benefits for the Cambodian people and economy.
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