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January 30, 2019

MACA signs MoU to provide mining services at Okvau Gold Project

Global contracting group MACA has signed a memorandum of understanding (MoU) with Renaissance Minerals (Cambodia) to supply equipment and provide contract mining services at the Okvau Gold Project.

Global contracting group MACA has signed a memorandum of understanding (MoU) with Renaissance Minerals (Cambodia) to supply equipment and provide contract mining services at the Okvau Gold Project.

Under the terms of the mining contract, MACA will conduct loading, hauling, drilling and blasting operations and use 100t class dump trucks at the Okvau Gold Project in Cambodia.

The contract extends for seven years, and the terms of the contract include an option to extend. The deal is expected to be worth around $220m in revenue.

MACA managing director Chris Tuckwell said: “MACA looks forward to assisting Emerald to develop its highly robust Okvau Gold Project and to continuing the strong working relationship we have developed over many years and across many quality successful projects, with the Board and Management of Emerald.

“MACA will also apply the experience we gained in establishing both a foreign subsidiary and starting a new mine whilst working in Brazil over the last four years”.

“MACA looks forward to continuing the strong working relationship we have developed over many years.”

The MoU is subject to a final investment decision to develop the Okvau Gold Project by the Board of Directors of Emerald Resources, the parent company of Renaissance Minerals (Cambodia).

MACA and Emerald have agreed all material terms, conditions, schedules and rates within a draft mining contract, which will be executed upon a final investment decision.

Emerald Resources managing director Morgan Hart said: “The Board and Management of Emerald have worked closely with the team at MACA over the past 20 years in a multitude of successful operations and are very pleased to continue the relationship on the Okvau Gold Mine Development.”

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