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Right: VIPs listen to speakers at the nation's first international mining conference, held Wednesday at the InterContinental Hotel. Left, top to bottom: Prime MInister Hun Sen; UNDP Country Representative Douglas Broderick; Minister of Mines and Industry Suy Sem. (Photo by: UY NOUSEREIMONY)By Jeremy Mullins and May Kunmakara
The Phnom Penh Post
CAMBODIA’S untapped mining sector is a potential windfall for the country, but must be carefully regulated if it is to attract foreign investment, said international experts taking part in the Kingdom’s first international mining conference Wednesday.
World Bank mining specialist Craig Andrews told the Post the sector will benefit if regulatory and taxation issues are in place before mineral exploitation begins.
He counselled the Kingdom to avoid an Australian-style “super tax” on mining profits, saying the situation in Australia’s developed mining sector and the Kingdom’s nascent industry require different kinds of policies.
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