Extractive Industries

As KrisEenergy struggles to stay afloat, reports of investor “vultures” targeting purchasing the company’s assets have appeared, while the local government remains cautiously optimistic about the conundrum, noting that operations in the Khmer Basin are still “running smoothly”. ...

KrisEnergy’s oil production dreams in the Khmer Basin appear to be dead in the water after the oil and gas company revealed it was not able to form a viable debt restructuring plan and will lose its revolving line of credit from Singapore-based DBS Bank. ...

KrisEnergy has warned that its current production rate at Cambodia’s Apsara offshore oil block has yielded only around half the company’s projected peak rate, and it has extended debt repayment deadlines and brought in an engineering firm to assess the situation amid “material uncertainty ...

In the wake of oil production starting in Cambodia, the nation is also placing high hopes of becoming a gold producing country, with the first mining of the precious metal due to start later this year than originally planned. ...

The Ministry of Mines and Energy has given the nod to two companies to continue their exploration licence approval processes for some 207sq km of gold-polymetallic mining areas in Tbong Khmum and Ratanakkiri provinces. The areas are 107.10sq km in the Memot area in Tbong ...

The Ministry of Mines and Energy on Monday put on offer concession licences for some 207sq km of gold-polymetallic mining areas in Tbong Khmum and Ratanakkiri provinces. It said the areas of tenement are 107.10sq km in Tbong Khmum’s eastern Memot district and 100sq km ...

The Ministry of Mines and Energy has opened applications for both national and international companies to apply for licensing rights in two mining concession areas. ...

The National Committee for Prevention and Crackdown on Natural Resource Crimes targeted an illegal gold mining operation in Kratie, marking the fourth such investigation in the area within a week. ...

Renaissance Minerals (Cambodia) Ltd, a subsidiary of Australia-listed Emerald Resources NL, has reiterated that its first gold production will go as planned despite the impact of the COVID-19 pandemic. ...

The Ministry of Mines and Energy is set to review applications soon for rights to four coal mining concession areas – totalling 794sq km – it opened late in March in the Kingdom’s north. ...

Renaissance Minerals (Cambodia) Ltd, a subsidiary of Australia-listed Emerald Resources NL, said it has raised more funds during the first quarter of the year, with more development activities towards gold production next year. ...

Extraction of the first gold mines in Cambodia has been confirmed to be made within this year, as more than 40 exploration licences on non-mantel mines including gold have been issued to private companies. ...

Cambodia collected $21 million in non-tax revenue from the mining sector last year, up five per cent from 2018, said a Ministry of Mines and Energy senior official. ...

As the global price of oil craters amid the Covid-19 pandemic, Singapore-based KrisEnergy Ltd remains on track to extract the first drop of oil in the first half of this year, said a Ministry of Mines and Energy senior official. ...

A grim report on the world economy by the International Monetary Fund (IMF) yesterday caused oil prices to continue to slide, with international prices hitting the lowest level since 2002 as planned output cuts were deemed insufficient to offset a COVID-19-fuelled slump in demand. ...

The Mine and Energy Ministry has called on local and foreign companies to bid for mining exploration licences. ...

Australia-listed Emerald Resources NL has entered into an investment committee approved term sheet with Sprott Private Resource Lending II LP to provide a $60 million facility that will be used to finance the Okvau Gold Project in Mondulkiri. ...

The Ministry of Mines and Energy on Sunday announced that two companies have been granted initial approval to carry out copper exploration in the Kingdom. ...

The government and Canadian firm EnerCam Co will soon sign an oil exploration agreement for Block VIII in Preah Sihanouk province, a senior official at the General Department of Petroleum said on Monday. ...

The company told shareholders that it will appear in court in Singapore next Monday to request a second three-month extension to a debt moratorium. The moratorium has been in place since August, when KrisEnergy began efforts to restructure its debt load, which stood at $476.8 ...

Singaporean oil and gas company KrisEnergy has decided to give up one of its oil exploration blocks in Vietnam to focus on its operations in Cambodia. ...

Chinese-owned Cambodian Resources Energy Development Co Ltd has been granted a three-year exploration licence in the Gulf of Thailand’s Block D, off the coast of Cambodia, a senior official at the General Department of Petroleum told The Post on Thursday. ...

The Ministry of Mines and Energy signed  a petroleum agreement with Cambodia Resources Energy Development Co on exploration of the offshore Block D oilfield. “Signing the agreement allows the company to conduct studies and search for oil in Block D,” Cheap Sour, director-general of Petroleum ...

Renaissance Minerals, a subsidiary of Australia-listed Emerald Resources, is scheduled next year to begin mining gold in Cambodia’s Mondulkiri province, according to the Ministry of Mines and Energy. ...