Dear Sophal, When I read the article I was flabbergasted to learn how much gold it was. I could not believe our fortune. Now it makes more sense with this correction announcing that it contains only 2.5 grams of gold per ton. The amount is thus a paltry $50 million. What a let down for Cambodia!
Thanks, Kenneth On Fri, May 28, 2010 at 4:05 PM, Sophal Ear <[email protected]> wrote: > Dear bong Kenneth, mistakes happen... but thanks to Sophoan Phean (cc:'d), > your e-mail announcing the discovery of 50 times more gold than the world > has ever mined can be corrected. Actually, maybe we can have a gold rush in > Cambodia and people from all over the world will start flying in to make > their fortunes, like in San Francisco, in 1849. > > From Sophoan: > > If I may just make a correction from your report about the gold mine. H. E. > Sok Leng presented this morning that OZ mineral found mineral deposit of 8.1 > million tonnes in which each tonne of the deposit has the gold content of > 2.5 gram that will make up the gold content of around 20 tonnes. I can > confirm this figure with the guy from OZ mineral tomorrow. > > Cheers, > Sophoan > > Sent from my iPhone > > ----- Forwarded Message ---- > *From:* Kenneth So <[email protected]> > *To:* SO Kenneth <[email protected]> > *Sent:* Fri, May 28, 2010 3:57:42 PM > *Subject:* Australian Firm OZ Minerals Discovered 8.1 million tons of Gold > Mineral Deposit in Cambodia > > 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. > > SE Asia and Vietnam News Links: > > http://www.straitstimes.com/BreakingNews/SEAsia/Story/STIStory_530780.html > > > http://www.vietnewsonline.vn/News/Society/15959/Cambodias-gold-mineral-find.htm > > *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 > > > -- Kenneth So Aryasatya (Sanskrit) Chattari Ariyasachchani (Pali) Chatuk Arey Sachak (Khmer) The Four Noble Truths (English) In Steps with Khmer Soul & Khmer Conscience -- You received this message because you are subscribed to the Google Groups "Cambodia Discussion (CAMDISC) - www.cambodia.org" group. 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