Thiess arm extends Cambodia gold contract

Thiess-owned MACA has secured a two-year A$170 million surface mining contract extension at Emerald Resources’ Okvau gold mine in Cambodia.

MACA won an initial contract at Okvau, Cambodia’s first large-scale gold mine, in 2020 and will now be at the site until at least 2030.

The mine has produced more than 510,000 ounces of gold at an all-in sustaining cost of US$884/oz since it was commissioning in September 2021 and is targeted to produce 110,000-115,000oz at AISC of US$980-1080/oz in FY2027.

Emerald’s ongoing exploration success is illustrated by the mine’s circa-one million ounce resource position in the middle of 2025 compared with an initial mining inventory of 907,000oz.

Thiess says the group has developed a strong relationship with Emerald through a shared commitment to safety, operational excellence, capability and community development, and sustainable value creation.

“Okvau demonstrates the important role mining can play in creating long-term employment opportunities, developing local capability and contributing to regional communities,” Thiess group executive - Australia West, David Greig, said.

“We are proud to support Emerald's continued success in Cambodia.”

Thiess CEO Michael Wright said the Okvau contract underlined MACA's credentials in the gold and metals sectors.

"This extension reflects Emerald’s continued confidence in MACA and recognises the results our teams have achieved at Okvau,” he said.

“It also demonstrates the Thiess group’s commitment to supporting our operating companies to deliver long-term value for clients and pursue sustainable growth across commodities and geographies.”

Thiess is a sponsor of IMARC 2026 and will have a large team of operators and business leaders at the event.