Gold Mine License Suspended Again

[geovalin]

A Vietnamese-owned gold mine in Battambang province’s Phnom Prek district failed to acquire an operating license from the Ministry of Mines and Energy yesterday after failing to meet their guidelines, according to officials. This comes after the ministry temporarily suspended the company’s license in February 2015, giving the company time to make the necessary upgrades to reach the ministry’s technical operating standards.

Meng Saktheara, a spokesman for the ministry, spoke to Khmer Times yesterday to outline why the proposal to get an operating license for Phu Yang Cambodia was rejected. “Based on inspections, the company met some of the requirements, but it did not meet all of them comprehensively, so the ministry decided to continue the temporary suspension of the license,” Mr. Saktheara said.

He added that before the current suspension, the $800,000 investment company had been granted a license to prepare a business plan, assemble machinery and build a site for workers for almost five years, but the process of preparing the company has been found to not be in line with the required technical standards. Mr. Saktheara also said the company recently asked the ministry to re-start operations after it thought it completed all of the requirements.

read more http://www.khmertimeskh.com/news/26377/gold-mine-license-suspended-again/

[elgordo38]

Just another glaring example of what can go wrong if mining companies invest in foreign countries. Barricks Pasco Lama project was a real doozy

[ozyjon]

No, you must think outside the square,

I wrote a post recently about the Chinese Government urging it's

citizens to buy Gold via TV commercials now being broadcast.

The BRICS (BRICS is the acronym for an association of five

major emerging national economies: Brazil, Russia, India,

China and South Africa.) countries are getting together to end

the US dollar being the reserve currency and the US and many

countries printing money by the FIAT system, (FIAT money)

You watch in the coming years any industry relating to gold or

more important silver will end up in the hands of hiso Thais.

Keep your eyes open in relation to news about gold and silver.

Edited June 22, 2016 by ozyjon