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Thursday, November 29, 2007

Australia`s Southern Gold starts drilling in Cambodia

The Cambodian government had been trying to lift Cambodia from poverty by creating several kinds of developing plans and projects. But because the corruption law didn't exist, all high ranking government officials are the high ranking criminals. The ways that the government is dealing with foreign firms are secretly kept from public and no detail about how revenue will be managed to the government for the benefit the poor. Mostly the negotiations were shaking hand and under the table deals. Do cambodia know how to dig gold for itself or needs foreigner to steal their gold?

Phnom Penh (ANTARA News/Asia Pulse) - Australian mining firm Southern Gold Ltd (ASX:SAU) has begun drilling for gold in Cambodia's northeastern province Kratie, said a company press release received here today.

The firm has started its first drilling campaign in Cambodia at its 80-percent-owned Snoul Prospect, after completing a study at the site launched in 2006, said the release.

The company plans to drill eight 80 to 150-meter deep holes at the site over an area of 1,200 meters, and if the results are good, it will drill more. Assay results are
expected in early 2008.
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Cambodia faces immediate threats from climate change

Cambodia faces immediate threats to its agricultural production and food security from climate change in rainfall, temperatures and availability of water, said the UNDP Human Development Report (HDR) 2007 released on Thursday.

For most Cambodians live in rural areas and are reliant on agriculture, long-term risks associated with climate change include water insecurity, increased sea level, cyclones and disruption or collapse of Cambodia's critical ecosystems, said the United Nations Development Program (UNDP) in the report.

Climate change may increase occurrence of drought and flood while increasing the vulnerability of Cambodia's poor people to their effects, it said.

Increase of disease with climate change may have an adverse impact on people's health, particularly the most vulnerable poor, it said.

However, it said, climate change presents Cambodia many opportunities.

For example, it said, Cambodia can seek technical assistance and financial resources to promote climate change mitigation and adaptation, and mobilize private sector partnerships to transfer appropriate technologies to promote renewable energy in order to support the development of other sectors such as health, education, and transport.

With 0.2 percent of world's population, Cambodia accounts for a negligible percentage of global emissions, it said.

The country has signed and ratified the Kyoto Protocol and as a developing country, Cambodia has no obligation to reduce its greenhouse gas emissions, but can contribute to emission reduction on a voluntary basis, including through the Clean Development Mechanism (CDM), it said.

Cambodia ranks 131 out of 177 countries in the Human Development Index (HDI) with its HDI value moving up from 0.543 to0.598 in the last five years, according to the report.

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Cambodia launches its first international golf tournament near famed Angkor temples

SIEM REAP, Cambodia: Asia launched its newest international golf tournament amid centuries-old Angkor temples when the Cambodian Open teed off Thursday.

Prime Minister Hun Sen teed off the first ball of the inaugural US$300,000 (€203,430) tournament at the recently opened Phokeethra Country Club in Siem Reap province, Cambodia's main tourist hub.

Siem Reap is the nearest town to Cambodia's most popular tourist attraction, the vast network of ancient temples including Angkor Wat — as well as one of just three golf courses in the southeast Asian nation.

"The launch of this event symbolizes the growing emergence of professional golf in new golfing countries like Cambodia and it augurs for the game in Asia," Kyi Hla Han, Asian Tour executive chairman, said in a statement.

Thailand's Thaworn Wiratchant, a former Asian number one and holder of a record nine victories in the region, is among the golfers competing at the tournament.

Other players include Chapchai Nirat, also from Thailand, and Scotland's Simon Yates, both ranked in the top-10 of the Asian Tour Order of Merit.

There are 150 professional golfers from 25 countries taking part, said Hun Sen, who described the tournament as a historic event in his opening speech.

Touted as the only international-standard course in Cambodia, Phokeethra is the result of a campaign by the Cambodia government to boost its tourist revenues. The 18-hole, 72-par course is 23 kilometers (14 miles) outside Siem Reap town.

Cambodia's other two golf courses are located near the capital Phnom Penh, with a fourth under construction in Siem Reap.

Tourism is a major foreign currency earner for cash-strapped Cambodia. There were 1.7 million foreign arrivals last year, and more than half of the tourists visited the Angkor temples.
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