Emerald Resources has secured full permits for development and operations at its Memot gold project in Cambodia after receiving the Memot Mineral Investment Agreement [MIA] and Industrial Mining Licence (IML).
The permitting process for the Memot gold project involved collaboration with various Cambodian Government ministries and agencies.
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Emerald has also received an extension to the Okvau gold mine MIA.
The Memot MIA and IML were executed by the Minister of Mines and Energy (MME) and the Minister of Economy and Finance (MEF).
The process followed environmental pre-approvals by the Ministry of Environment (MoE) and final approval by the Cambodian Council of Ministers through the issuance of an official Sor Chor Nor notification.
This extension supports the importation of equipment for upcoming underground development activities at Okvau.
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By GlobalDataThe agreement grants Emerald Resources several incentives, including a three-year exemption from import taxes and duties on equipment, and a 0% withholding tax on dividends to foreign affiliates for five years.
It also sets a 3% royalty on gross sales and incorporates a five-year stability clause, requiring good-faith amendments to maintain economic equivalence if new Cambodian laws materially increase the company’s costs.
After review by a Cambodian joint review committee, unresolved disputes will be subject to arbitration at the Singapore International Arbitration Centre.
The Memot IML covers a 27.46km² project area, has a 15-year initial term and provides two additional ten-year extension options under current law.
The MoE has granted environmental pre-approval for the development and operation of the Memot gold project.
This pre-approval requires Emerald Resources to submit an environmental and social impact assessment (ESIA) by 30 April 2026.
The company began work on the ESIA in early 2025 and plans to submit the final study within calendar year 2025, ahead of project development.
Additionally, the Okvau MIA extension reflects an expanded mine life at Okvau gold mine from its initial seven years and currently encompasses underground operations.
Emerald managing director Morgan Hart said: “We are pleased to have the full licensing in place for the development and operation of the Memot Gold Project. Securing both the Memot MIA and Memot IML marks a major milestone for the project and is a testament to the constructive and thorough collaboration we have had with the relevant government ministries and agencies.
“Together with the Okvau MIA extension, which now encompasses underground mining activities, the Royal Government of Cambodia has demonstrated their strong and ongoing support for our current operations and planned expansion of mining activities.
“In particular we would like to extend our appreciation to the MME, MEF, MoE and other government agencies for their collaborative efforts in finalising these approvals.
“We look forward to providing updated timelines for the commencement of both the Memot Gold Project and Okvau Gold Mine underground expansion in the coming months.”
