Investment in mining operations falls sharply
Guangxi Nonferrous Metal Group invested $21.95 million in the construction of a steel processing plant, the data shows. The Chinese company planned to invest as much as $500 million in Preah Vihear province, China’s state-owned Xinhua news agency reported in November. China’s Xing Yuan Kang Yeak Co invested about $8.5 million in gold mining and Phu Yang Co, a Cambodian-Vietnamese joint venture, invested $800,000, according the data, which does not reveal the location of the projects. New mining investment in Cambodia fell more than 71 per cent year over year in 2011, according to the data. … Richard Stanger, president of the Cambodian Association for Mining and Exploration Companies, confirmed yesterday that international companies had reduced exploration in Cambodia as they developed other projects. …
