Renaissance Minerals Signals Growth in Cambodia

PHNOM PENH, Cambodia (Aug. 25, 2025) — Cambodian Deputy Prime Minister Sun Chanthol met Monday morning with Morgan Hart, managing director of Renaissance Minerals (Cambodia) Ltd., to discuss investment opportunities in Cambodia as part of the first day of the country’s investment roadshow in Australia.

The breakfast meeting was attended by Cambodia’s ambassador to Australia and New Zealand, Australia’s ambassador to Cambodia, and senior officials from the Council for the Development of Cambodia.

Hart thanked Sun for the opportunity to meet and exchange views on Cambodia’s investment climate, expressing appreciation for the government’s support of his company’s operations. Sun briefed Hart on Cambodia’s recent economic progress and outlined the government’s long-term vision to transform the country into a high-income economy by 2050.

Following the discussion, Hart expressed interest in expanding Renaissance Minerals’ investment portfolio in Cambodia, citing the country’s potential and the government’s proactive engagement with foreign investors.

Renaissance Minerals (Cambodia) Ltd., a subsidiary of Australia’s Emerald Resources NL, officially launched Cambodia’s first commercial gold mine—the Okvau Gold Project—on June 21, 2021, in Mondulkiri province’s Keo Seima district. The $120 million facility began processing ore and casting dore bars containing up to 90% gold, marking a major milestone in the country’s mining sector.

With a capacity to process nearly two million tonnes of ore annually, the mine is expected to produce an average of three tonnes of gold per year over an initial eight-year lifespan. The operation employs 462 workers, including 427 Cambodians, and adheres to international standards for environmental protection and community engagement.

Former Prime Minister Hun Sen hailed the project as a breakthrough after 14 years of exploration, emphasizing its potential to generate $185 million in annual pre-tax cashflow and contribute $40 million in royalties and taxes to the national budget.