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Saturday, August 11, 2007

Fiji's mining sector has potential

Fiji's mining sector has potential for further development.

Read more in an article taken from the Fiji Times, Saturday, 11 August 2007, below.

"Probert highlights mining potential, Saturday, August 11, 2007

Fiji has the potential to further develop its mining sector, says Fiji Employers Federation official, Harvie Probert.

Mr Probert, who is chairman of the federation's mining and quarrying council, was speaking after a meeting of the combined councils of the FEF in Suva this week.

He said there was a lack of appreciation of the mining industry and its contribution to the economy.

He said two leases were issued for gold mining in Fiji one for Asia Pacific Resources and the other to Emperor Gold Mines in Vatukoula.

Mr Probert also highlighted Australian company Newcrest Mining Ltd's deal last month to take a majority stake in the Namosi gold mine.

Newcrest executive officer corporate, Daryl Corp said the company decided to enter into the project because the Namosi tenement was a highly prospective large copper-gold porphyry mineralised system to which Newcrest's deep drilling and exploration expertise would be applied.

"The immediate work program for Namosi will include concept level studies centered on previously identified mineralisation at Waisoi as well as testing possible depth extensions of the Waisoi mineralisation," said Mr Corp.

"Initial emphasis of the regional exploration activities will focus on the more than 15 significant copper and gold prospects already identified during reconnaissance level exploration within the broader Namosi tenement."

Meanwhile, Interim Mineral Resources Minister Tevita Vuibau said the interim Government would consider other companies interested in operating the Vatukoula gold mine.

Mr Vuibau said the interim Government was still in talks with Australian company Westech over the terms of a package to finalise the company's purchase of the Vatukoula mine.

The interim Government is calling for expressions of interest to operate the mine."

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