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India’s Mesco one step short of gold licence

| Publication date 01 September 2016 | 06:57 ICT

India’s Mesco one step short of gold licence

Indian miner Mesco has received approval from the Council for Development of Cambodia (CDC) for a certificate of registration on its Phum Syarung mine in Ratanakkiri province, the penultimate step in licensing the underground mine for gold extraction, its Canadian partner Angkor Gold said yesterday.

“The timeframe from exploration and proving economic quantity through to licensing has been approximately five years, which is remarkable given the 15-20 year averages experienced in many international mining jurisdictions,” Angkor Gold CEO Mike Weeks said in a press release. It is now up to the Ministry of Mines and Energy to issue a full mining licence for the project, the release said.

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