Wedoany.com Report-Nov. 19, Emerald Resources has secured all necessary permits for the development and operation of its Memot gold project in Cambodia. This includes receiving the Memot Mineral Investment Agreement (MIA) and Industrial Mining Licence (IML), marking a significant milestone for the company.

The Okvau MIA extension reflects an expanded mine life from the initial seven years and currently encompasses underground operations.

The permitting process involved close collaboration with various Cambodian government ministries and agencies, including the Ministry of Mines and Energy (MME), the Ministry of Economy and Finance (MEF), and the Ministry of Environment (MoE). The environmental pre-approvals were granted by the MoE, followed by final approval from the Cambodian Council of Ministers through the issuance of an official Sor Chor Nor notification.

The granting of the Memot MIA and IML provides Emerald with several advantages, including a three-year exemption from import taxes and duties on equipment. The agreement also sets a 3% royalty on gross sales and includes a five-year stability clause. This clause ensures that the company’s costs will be protected from material increases due to new Cambodian laws. Additionally, the agreement provides a 0% withholding tax on dividends paid to foreign affiliates for five years.

The project area covered by the Memot IML spans 27.46 km² and has a 15-year initial term, with two potential ten-year extensions. The development of the Memot gold project is subject to further environmental and social impact assessments (ESIA), with the final report due by April 2026.

Emerald Resources also received an extension for its Okvau gold mine MIA, which now includes underground mining activities. This extension reflects an expanded mine life at Okvau, allowing for the importation of equipment needed for the planned underground operations.

Morgan Hart, Emerald's Managing Director, expressed satisfaction with the progress: "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 IML is a major milestone and reflects the constructive collaboration with the Cambodian government. The extension of the Okvau MIA further strengthens our position and supports the expansion of our mining activities."

Emerald Resources is now focusing on submitting the ESIA report ahead of project development, and they plan to provide updated timelines for the Memot Gold Project and Okvau Mine expansion in the coming months.