Cambodian mining sector sees non-tax revenues rise by 80% in 2024

Cambodia's mining sector brought in a windfall for the government in 2024, with non-tax revenues up almost 80% on the previous year, says the Ministry of Mines and Energy.

Minister Keo Rattanak announced these figures at the inauguration of a $250 million cement plant in Kampong Speu province on May 20. He credited the country's stable environment with fostering the growth of all industries, including mining, which is still in its early stages of development.

“Peace has created a favorable environment for national development, and the mining sector is an obvious beneficiary,” said Mr. Rattanak.

He pointed out that both domestic and foreign investors have been attracted to Cambodia's mining opportunities, helping the government to collect nearly $100 million in non-tax revenues, such as fees and permits, in 2024 alone.

The province of Kampong Speu, home to many mining operations, contributed over $5 million in non-tax revenue last year and around $1 million in the first quarter of 2025. The province's 74 mining operations generated around 1,900 direct jobs, according to ministry data.

The government's 2025 budget aims to raise a total of 31,598 billion riel (around $7.9 billion) in national revenue, with non-tax sources - including mining - expected to provide almost $1 billion.

Economist Hong Vanak, of the Royal Cambodian Academy, told the Phnom Penh Post that the increase in revenue reflected a rise in the number and profitability of mining operations. He stressed the importance of respecting legal frameworks to ensure sustainable growth.

“Increased revenues enable the government to invest more in public infrastructure, human resources, healthcare and technology,” said Mr. Vanak.

He also noted that further improvements in the transparency of business classification could unlock even greater tax revenues in the future.

As Cambodia's mining sector continues to grow, authorities and analysts alike see the industry as a promising driver of economic growth and public investment.