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Company |
XING YUAN KANNG YEAK CO., Ltd. |
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Company profile |
XING YUAN KANNG YEAK Co., Ltd. is a Cambodian-foreign corporation (Cambodia-China) registered with the Ministry of Commerce with an initial investment of KHR 20,000,000 on January 10, 2011. The company has obtained a mining exploration license from the Ministry of Mines and Energy to explore for gold ore under letter No. 662, dated August 6, 2010, covering a total area of 28 (twenty-eight) square kilometers. The company plans to invest an additional USD 15,000,000 to set up a gold production system and infrastructure, and road construction. |
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Registration investment capital |
KHR 20,000,000
USD 15,000,000 |
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Company registration date |
Business License (1st time) No. 727, dated August 18, 2008, of the Ministry of Industry, Mines and Energy. B-Letter No. 015 dated August 18, 2010, request for extension. Business license in Ochhech Lak area, Sambo district, Kratie province: by Xing Yuan Kanng Yeak Co., Ltd., C-Letter No. 016 dated May 18, 2010, requesting to keep the area of (28) square kilometers in the area of Ochchek Khnok, Sambo District, Kratie Province of Xing Yuan Kang Yeak Co., Ltd. D. Business License (2nd) No. 662, dated August 06, 2010, of the Ministry of Industry, Mines and Energy, authorizes Xing Yuan Kang Yeak Co., Ltd. to conduct metal exploration studies. Continue in Ochchikrok area, Sambo district, Kratie province, on an area of 28 square kilometers. |
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Company registration code |
Letter No. 662, dated August 06, 2010 |
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Director |
Mr. Tang Rudong |
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Director residence |
China and Cambodia |
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Company address |
The company has its headquarter in Building 1, corner of Street 211.138, Sangkat Veal Vong, Khan 7 Makara, Phnom Penh, Tel: 097 642 70 78/011 232 911 and Email: twc007@msn.com |
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Type of EIA reports |
Initial Environmental Impact Assessment |
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State agency |
Ministry of Environment and Ministry of Mines and Energy |
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Site |
The first research on an area of 2,050 hectares located in O'Lik Khlak area, Kbal Damrey commune, Sambo district, and Sambok commune, Chit Borey district, Kratie province. |
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Village |
O'Klik Klock |
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Commune |
Kbal Domrey |
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District |
Sombou |
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Province |
Kratie |
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Contract duration |
Not found |
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Area size of project |
XING YUAN KANNG YEAK Co., Ltd. has prepared for the construction of a 6-hectare and 66-hectare gold mining production system and workers' accommodation for solid waste storage. |
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sector |
Extractive industry |
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EIA company |
Green Consultancy Firm (GCF) |
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Backgrounds of EIA company |
Not found |
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Address of EIAs company |
Not found |
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Relevants law |
Law on Environmental Protection and Natural Resource Management, Land Law, Labor Law, Law on Management and Exploitation of Mineral Resources, Fisheries Law, Biosafety Law, Forest Law, Law on Water Resources Management in the Kingdom of Cambodia, Sub-Decree on Environmental Impact Assessment Process, Sub-Decree on Water Pollution Control, Sub-Decree on Solid Waste Management, and Sub-Decree on the Control of Air Pollution and Noise |
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Revenues and expenditures |
With an annual processing capacity of 62,400 tons of ore, the average gold grade from the three mines is 2.7 grams/ton, the average copper grade is 0.15 percent or 150 grams/ton, the gold price is 45.01 USD/gram, and the copper crushing cost is 5,500 USD/ton. Therefore, the annual gold production is 62,400 x 2.7 x 85 percent = 143,208 grams. The copper is 62,400 x 150 x 85 percent = 7,956,000 grams or 7,956 tons.
For the annual sales price of ore: gold 143,208 grams x 45.01 = USD 6,445,792, and copper 7,956 tons x 5,500 = 43,758 US dollars. Therefore, the annual revenue is USD 6,445,790 + USD 43,758 = USD 6,489,550.
The share received by the company: Annual ore sales price of USD 6,489,550 and the cost of exploration, production system development, and extraction in the first year totaled USD 9,375,800, so the gross income after payment of production costs is equal to (USD 6,489,550 - USD 9,375,800 - USD 2,886,650).
The annual tax obligation and land concession fee is equal to USD 846,371.50, including: (1) land rent for the 22 square kilometer exploration area equal to (USD 15 x 22 - USD 330) (2) land rent for the 6 square kilometer mining area (USD 400 x 6 = USD 2,400) (3) a royalty fee of 3 percent of the sale price equal to (USD 6,489,550 x 3 percent = USD 194,686) and (4) a 10 percent export tax on exported products equal to USD 6,489,550 X 10 percent = USD 648,955. |
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Social alnd environmental impacts |
Not found |
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Employment opportunity |
Not found |
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Public participation |
The Green Consultants Firm team held a public consultation with provincial and district leaders, heads and deputy heads of relevant departments, and representatives of Xingyuan Kangyak Company, a total of 14 people, on March 3, 2011. The content of the meeting report is on pages 101-105. On January 20, 2011, the team met directly with local authorities, including the first and second commune heads, village heads, sub-villages, and a total of 36 people. The content of the meeting is on pages 116-117 after the provincial leaders’ report. |
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Land converted from |
Not found |
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Environmental management plan |
The company used the Ministry of Environment’s Common Guidelines and the Emergency Environmental Assessment Framework to identify the initial environmental and social impacts that could be caused by gold exploration activities. The mining is a closed pit operation, and the gold extraction method in the area is mechanical. |
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Development plan |
Not found |
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Mitigation strategies |
Through field studies, it is shown that the site where Xing Yuan Kang Yak Company plans to build a gold mining production line and accommodation for workers is 6 hectares and 66 hectares, respectively, used for storing solid lead. |
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Environmental and social funds |
Annual tax and concession fee obligations amount to USD 846,371.50, of which (1) land fee for 22 square kilometers of exploration area is equal to (USD 15 x 22 = USD 330) (2) land fee for 6 square kilometers of mining area (USD 400 x 6 = USD 2,400) (3) 3 percent mining royalty of the revenue is equal to (USD 6,489,550 x 3 percent = USD 199,686) and (4) 10 percent export tax on exported products is equal to USD 6,489,550 x 10 percent = USD 648,955. Annual social and environmental support expenses are USD 100,000. |
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EIA publication year |
2011 |
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Last update |
21-Sep |
