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Thursday, February 22, 2007

New Investors for Gold Mine

The Emperor Gold Mine at Vatukoula is currently looking at indications of interest from foreign investors to take over its operations at Vatukoula. The company operating the gold mine will be selling off its operations with assets valued at around F$88 million. On geological studies with regard to whether gold deposits still exist at Vatukoula, companies may wish to contact the Emperor Gold Mine or the Ministry of Mineral Resources. In latest developments, the company said that it will be making its final redundancy payment of F$5 million to all former mine workers today, Thursday, 22 February 2007. F$2.5 million has already been paid out in redundancy payments over the past few weeks.

In the meantime, Government has set aside F$600,000.00 for an alternative livelihoods project to assist former mine workers. The program will look at reskilling workers to be able to do small businesses to take up other jobs.

A Canadian mining company is also scoping out potential skills among former mine workers who can take up jobs at mines in Canada.

Note : Foreign investors that need assistance with setting up business or investing in Fiji can use our company, Gilbert & Samuels Company Limited. Our contacts are : e-mail gilbert@connect.com.fj or telephone (679) 3396427. We can assist with securing all permits, approvals required for setting up business and also arrange local financing for projects.

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