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Mining Application

  • Date Submitted: 05/10/2014 08:20 PM
  • Flesch-Kincaid Score: 59 
  • Words: 432
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The project generator sold the 12 sq.-km Phum Syarung prospect on its 300 sq.-km Oyadao South Concession to Mesco Gold, a subsidiary of Indian steel maker Mesco, for US$1.2 million in March 2013.Angkorretains a 7.5% net smelter return royalty on all production from Phum Syarung if the monthly average price of gold is between US$1,300-$1,700 per oz.Used Sand Mining Equipment If the gold price dips below US$1,300 per oz., the royalty slides by 0.5% for each US$50 in the gold price and rises 0.5% for each $50 price above $1,700.

Mesco Gold submitted its mining application for Phum Syarung to Cambodia’s Ministry of Mining and Energy in January 2014, and Weeks says he expects the Indian mining company will have the permit approved before the end of June.Cement Clinker Plant They are already in the development phase and hope to be processing ore in late 2015,” Weeks says, adding that in India, mining companies do not require proven and probable reserves to start building a mine.

Gold rose and finally settled at a peak of $1730 per ounce in September 2011, dipping slightly before seeing a late resurgence a year later in October 2012 to reach $1700 again before sliding off once more.This period has been the first since the 2007-8 that gold's growth in revenue has actively shrunk, with a 2.2 per cent decline in revenue.Gold Washer Machine This recent negativity has already played out across the sector with many gold miners cutting jobs or scaling back expansions and operations. From next year through to 2019 there is a predicted annual growth rate of revenue of only 2 per cent, a marked difference from the period leading up to 2014, which saw an annual growth rate of 5.4 per cent.

The deal is the second amendment to an agreement signed by both Canadian firms last year, at about the same time that Vancouver-based First Quantum began its hostile takeover bid for Inmet.As part of the accord, Minera Panama agreed to pay Petaquilla $3.3 million for accepting the deal,...


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