MACA has secured a $US220 million ($303 million) agreement with Renaissance Minerals to supply equipment and mining services at the Okvau gold project in Cambodia.
The memorandum of understanding (MoU) is subject to Renaissance parent company, Emerald Resources, making a final investment decision to develop the project
MACA and Emerald have, however, agreed to all material terms, conditions, schedules and rates within a draft mining contract, which will be executed once the investment decision has been confirmed.
The scope of work under the proposed seven-year contract, with option to extend, includes load, haul, drill and blast using 100-tone class dump trucks.
MACA managing director Chris Tuckwell said the contractor looked forward to continuing the strong working relationship developed between the companies over many years.
“MACA will also apply the experience we gained in establishing both a foreign subsidiary and starting a new mine whilst working in Brail over the last four years,” Tuckwell said.
Emerald managing director Morgan Hart added, “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.”