Emerald Resources NL (ASX: EMR) has signed the Mining Contract with MACA Limited (ASX:MLD) to supply earthmoving equipment and conduct contract mining services at the Okvau Gold Project in Cambodia.
The US$230 million contract is for a period of seven years, with machine mobilisation activities expected to commence in August 2020 ahead of pre-production mining in October 2020.
The contract cope of works includes site preparation, drill and blast, load and haul and maintenance works.
Emerald Managing Director, Morgan Hart, said development of the 1.14 Moz Okvau Gold Project progressing on time with first gold production by Q2 2020.
Mr Hart said the signing of the Mining Contract follows extensive work with MACA around scheduling of pre-production and production mining.
We are extremely pleased to have appointed MACA as the mining contractor for the Okvau Gold Project operations which continues the existing relationship between the Emerald and MACA management teams,” Mr Hart said.
“The signing of the Mining Contract follows a thorough and collaborative process with both teams in finalising the mining schedule for the development and operations of the Okvau Gold Project.
“The signing of the Mining Contract gives us greater confidence to achieve our goal of becoming the first modern large-scale Cambodian gold producer by Q2 2021,” he said.
Mr Hart said the signing represents a positive step in the development of the Okvau Gold Project by adding a high level of confidence in the execution of the mining schedule with the highly experienced MACA earthmoving team.
“The contract provides for the use of new fit for purpose earthmoving equipment with an onsite expatriate management team experienced in similar international operations.
“The Board and Management of Emerald have worked closely with the team at MACA over the past 20 years in a multitude of different operations and are very pleased to continue the relationship on the Okvau Gold Project development.”