Tag Archives: Renaissance Minerals

Outotec mineral process equipment destined for Okvau gold project

Outotec says it has been awarded a contract from Renaissance Minerals, a subsidiary of Emerald Resources, for the delivery of process equipment to the greenfield Okvau gold project, in Cambodia.

The order value, booked into Outotec’s 2020 March quarter order intake, is around €13 million ($14.2 million).

Outotec’s scope includes the delivery of an Outotec HIGmill® high intensity grinding mill, a semi-autogenous (SAG) mill, TankCell® flotation cells, an OKTOP® Conditioner, thickeners and spare parts.

The Okvau gold project is in the Mondulkiri province of eastern Cambodia. The 2 Mt/y operation will be the first large-scale mining project in the country, according to Outotec, with project commissioning expected in the June quarter of 2021.

Last year, ASX-listed mining contractor, MACA, entered into a memorandum of understanding with a subsidiary of Emerald Resources to supply equipment and contract mining services at the project.

Paul Sohlberg, Head of Outotec’s Minerals Processing business, said: “We are pleased to be part of Cambodia’s first significant gold processing project with Emerald’s highly credentialed gold project development team.

“Outotec’s leading technologies such as energy efficient ultrafine grinding, proven flotation technology for low grade sulphide ore and superior thickening technology, enable our customer to do profitable business sustainably. This order will strengthen Outotec’s position as a supplier of advanced minerals processing technologies in Southeast Asia.”

MACA drafts up mining contract for Okvau gold project in Cambodia

ASX-listed MACA has entered into a memorandum of understanding (MoU) with a subsidiary of Emerald Resources to supply equipment and contract mining services at the Okvau gold project in Cambodia.

The MoU with Renaissance Minerals is subject to a final investment decision to develop the project by the Emerald Resources Board of Directors, MACA noted. A draft mining contract between MACA and Emerald, agreeing on all material terms, conditions, schedules and rates, will be executed upon this decision.

MACA’s proposed scope of work under the mining contract includes load, haul, drill and blast utilising 100-t class dump trucks, with the initial term of the contract aligned to the current schedule of seven years with an option to extend. This equates to around $220 million in revenue, MACA said.

MACA Managing Director, Chris Tuckwell, said MACA will use the experience it gained in establishing both a foreign subsidiary and starting a new mine whilst working in Brazil over the last four years to Renaissance’s Cambodia project.

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.”

On 1 May 2017, Renaissance announced the completion of the definitive feasibility study (DFS) on the development of a 2 Mt/y operation at Okvau. The DFS delivered an initial ore reserve of 14.3 Mt at 2 g/t Au for 907,000 oz of gold at an average all-in sustaining cost of $731/oz over an initial seven year life of mine.