The Ministry of Planning and Investment has issued an investment license to Can Tho Cement Company to establish a joint venture to mine laterite ore in Cambodia.
Can Tho Cement and Cambodian company Omsaura will form a joint venture with a total capital of US$900,000.
Can Tho Cement will contribute $459,000.
The planned joint venture will start construction next month and begin exploiting laterite, a high-iron clay, two months later.
The project, to expire in 49 years, will have an estimated output of 50,000 tons of ore per month.
It marks the first mineral exploitation cooperation project between the Mekong Delta’s Can Tho City and Cambodia.