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Gold finds could make Cambodia the richest country in the world

with 9 comments


Originally posted at: Khmerization

By Kenneth So

Dear Friends,

According to the news (please see the links and story below), the Australian firm OZ Minerals had discovered a gold mineral deposit of around 8.1 million tons in the north eastern province of Mondulkiri.

This gold deposit is so large that it is about 50 times of all the gold that has ever been produced throughout human history. According to Wikipedia (http://en.wikipedia.org/wiki/Gold), a total of only about 161,000 tons of gold have been mined throughout the history of human civilization.

According to the US geological survey (http://minerals.usgs.gov/ds/2005/140/gold.pdf), the world gold production in 2008 was only 2,260 tons. Therefore, with the current production, it would take Cambodia 3584 years to exploit all the gold from the mine.

I made some calculation as to the value of our Cambodian gold deposit. Considering that the price of gold is about $1,200 per troy ounce, the total value of our Cambodian gold deposit amount to over $300 trillion ($1200 x 8,100,000 tons x 22,240 lb/ton x 14.584 oz/lb). This is about 24 times the current debt of the United States of America (The current US debt is about $13 trillion). This mean that Cambodia could buy the US out and still have about $300 billion left. With this kind of wealth, Cambodia would be the richest country in the world.

I hope Cambodia and the government know how to manage our natural resource properly for the benefits of Cambodia and its citizens.

As some of you may have remembered, Cambodia used to be called Sovannaphum, which means a country of gold. Now we know the reason why our ancestors called Cambodia Sovannaphum.

…………………………………………………………………………………..

May 24, 2010

Cambodia’s gold, mineral find

PHNOM PENH – CAMBODIA said on Monday that Australian firm OZ Minerals had discovered around 8.1 million tonnes of gold on its territory, ahead of a conference intended to draw in mining investment.

Some 60 local and foreign firms including companies from Australia, China, South Korea and Vietnam have been conducting mineral research and exploration across Cambodia, an official said ahead of the international mining conference starting in Phnom Penh on Wednesday.

‘We have been conducting research and we have obtained remarkable results,’ said Sok Leng, head of the General Department of Mineral Resources at Cambodia’s Ministry of Industry, Mines and Energy, at a news conference.

OZ Minerals Limited had recently discovered about 8.1 million tonnes of gold in an area in the north-eastern province of Mondulkiri, said Mr Sok Leng. Other minerals including gold, iron ore, and copper had been found elsewhere in the country, he said.

Douglas Broderick, representative of the United Nations Development Programme, which is co-organising the conference with the Ministry of Industry, Mines and Energy, said Cambodia’s mining sector would continue to develop. ‘Obviously, we would like to see (the) mining conference encourage investment,’ Mr Broderick said during the briefing.

London-based Global Witness has alleged that Cambodian earnings from natural resources, including minerals, are being ‘jeopardised by high-level corruption, nepotism and patronage.’ The environmental watchdog said Cambodia had enough natural wealth to wean itself off foreign aid but that international donors must do more to ensure the assets are properly managed. — AFP

London-based Global Witness has alleged that Cambodian earnings from natural resources, including minerals, are being ‘jeopardized by high-level corruption, nepotism and patronage.’ The environmental watchdog said Cambodia had enough natural wealth to wean itself off foreign aid but that international donors must do more to ensure the assets are properly managed.

Kenneth So
Aryasatya (Sanskrit)
Chattari Ariyasachchani (Pali)
Chatuk Arey Sachak (Khmer)
The Four Noble Truths (English)
In Steps with Khmer Soul & Khmer Conscience

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9 Responses

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  1. normally 1 ton will produce 3grams of gold. for the finds in cambodia it is 2.3 gr only. the 8.1 million tons is indeed misleading. your $300 trillion has no become $690 million.

    rititt

    June 3, 2010 at 6:03 pm

  2. Thai is why US amy go to Afghanistan.

    http://www.independent.co.uk/news/world/asia/afghanistans-resources-could-make-it-the-richest-mining-region-on-earth-2000507.html

    I hope you will find this info useful. This is the true major cause of many killing, and wars in this world, and no one seem to really care. Many big oil company and driller have been visit both our country lately.

    Real Kon Thai

    June 15, 2010 at 3:03 pm

  3. I understand what you mean, but the thing is that the situation in Cambodia and Thailand is not caused by that of USA, of course it is caused by extreme nationalist yellow and democrats and their supporters.And i think we can stop them if the people in our countries-Thailand and Cambodia dare to voice against all forms of war created by those who are in power. We should not praise them for such a war, esp. people in Thailand must play now to stop them and first urge them to withdraw military troops from our Prasat Preah Vihear given the situation back to normal as it was before July 2008. And let border committees solve the border conflicts according to international law and treaties and give a chance for people in both sides to do their business as usual in the past. Military is not the best way to solve such a conflict! It is like we are playing with fire!

    sokheounpang

    June 15, 2010 at 3:33 pm

  4. We have a device that can remove gold from fluidized beds at the atomic level. No chemicals needed, only water which is recycleable. You get pure gold using our device.

    Interested

    Lawrence F Curtin

    February 4, 2011 at 9:33 pm

  5. Hello! I really like your art – are very good .

    Chhiv_manith@yahoo.com

    October 24, 2012 at 11:01 am

  6. The world clown learning to write!

    But here’s the truth ‘the company said it was reviewing its gold exploration in the country after exploration efforts failed to find a large enough resource base to justify the commencement of production.’

    Read more: http://www.theage.com.au/money/investing/oz-minerals-denies-cambodia-blunder-20110601-1ffgf.html#ixzz2F4tGcGtE

    so stupid and funny

    December 15, 2012 at 1:06 am

  7. The Summer Protected Design

    This is a residence which has a beautiful site overlooking the ocean, leading to furniture shop in Cambodia construction materials said.

    Anyway the setting is scenic but the climate is harsh, and summer often be the problem in these coastal area by short light and wind.

    By this way the design has a great emphasis for this problem is put on exploring the border between inside and outside to protected and exposed, building and nature.

    One more thing 1/3 of the built area consists of outdoor areas under roof, and the H-shape helps creating intimate and wind protected courtyard that prolong the summer season.

    Indeed the main veranda is fully under roof and an open fireplace keeps temperature up during spring and fall.

    Then the bedroom is connected from the concrete and less rough with dark wooden floor and interior.

    rathanaem29

    July 23, 2014 at 4:14 am

  8. […] Gold finds could make Cambodia the richest country in the … – Jun 03, 2010 · The Summer Protected Design. This is a residence which has a beautiful site overlooking the ocean, leading to furniture shop in Cambodia construction …… […]

  9. That’s cleared my thoughts. Thanks for coruinbtting.

    Xaria

    January 4, 2015 at 8:18 am


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