Logo of Phnom Penh Post newspaper Phnom Penh Post - Window closes for deal on mine project in Kratie

Window closes for deal on mine project in Kratie

Window closes for deal on mine project in Kratie

A deadline for an earn-in agreement involving Australian-listed Medusa Mining and Sea Resources to explore the Prek Kampi region of Kratie province passed on Thursday with no deal being reached, according to a UK-based news website.

The two companies signed a memorandum of understanding in January to open up the possibility of Medusa earning a 70 percent stake by investing $3 million over the next four years; however, a March 1 deadline for such a deal was not met, according to the Proactive Investors website.

In its initial announcement, Medusa said it planned to look for copper, gold and oil in the region. Sea Resources was granted exclusive mining rights to the Prek Kampi region in June last year.

The area is home to the endangered Irrawady River Dolphin, although Medusa Mining CEO Boyd Timler previously said a potential mine would be unlikely to affect the dolphins, which reside in a stretch of the Mekong River about 35 kilometres west of the exploration area.

Representatives for Medusa Mining could not be reached yesterday.

MOST VIEWED

  • Research key to Kanitha’s rep for expertise

    Sok Kanitha is used to weighing in on controversial issues using a confident approach that signals expertise and authority, and a recent video she made was no exception. Her “Episode 342: The History of NATO” video went live on January 16, 2023 and immediately shot to 30,000 likes and 3,500

  • Cambodia maintains 'Kun Khmer' stance despite Thailand’s boycott threat

    Cambodia has taken the position that it will use the term "Kun Khmer" to refer to the sport of kickboxing at the upcoming Southeast Asian (SEA) Games, and has removed the term Muay from all references to the sport. Despite strong reactions from the Thai

  • Knockout! Kun Khmer replaces ‘Muay’ for Phnom Penh Games

    Cambodia has decided to officially remove the word Muay from the programme of the 32nd Southeast Asian (SEA) Games 2023 in May. “Kun Khmer” will instead be used to represent the Southeast Asian sport of kickboxing, in accordance with the wishes of the Cambodian people. Vath

  • Artificial insemination takes herd from 7 to 700

    Some farms breed local cows or even import bulls from a broad for the purpose of breeding heavier livestock for meat production. One Tbong Khnum farmer has found a more efficient way. Hout Leang employs artificial insemination to fertilise local cows. Thanks to imported “straws”

  • New int’l airport nearly half complete as travel industry returns to life

    Construction of a new airport that is slated to serve the capital has passed the 43 per cent completion mark, raising prospects for a proper recovery in the civil aviation and tourism sectors as international travellers return to the Kingdom in increasingly large numbers. The figure

  • Chinese group tours return to Cambodia starting Feb 6

    Cambodia is among 20 countries selected by Beijing for a pilot programme allowing travel agencies to provide international group tours as well as flight and hotel packages to Chinese citizens, following a three-year ban. As the days tick down until the programme kicks off on February 6,