Fiji Time: 3:41 PM on Saturday 10 October

Fiji Times Logo

/ Front page / News

Gold deal

Repeka Nasiko
Monday, May 26, 2014

CANADIAN company, Lion One Metals Limited has secured a 21-year surface lease from the iTaukei Lands Trust Board to begin its Tuvatu Gold Project in Nadi.

The announcement was made last week after a three-year discussion with landowners.

"The agreement for the Tuvatu Surface Lease was reached after nearly three years and well over 200 consultations and meetings with local communities and landowners," said company chairman and CEO Walter Berukoff.

"With the surface lease secured and an approved Environmental Impact Assessment we are now focused on securing a Mining Licence for Tuvatu."

The company explained it had received approval on their Environmental Impact Assessment from the Department of Environment in February.

"In addition, to ongoing exploration activities, the EIA contemplated the impact of both surface and underground mining at Tuvatu. Fiji's Department of Environment has notified the Mineral Resources Department (MRD) that the EIA is approved and recommended to the MRD that mining activities may proceed at Tuvatu.

"Lion Metals Ltd filed its application for a Mining Licence with the MRD for Tuvatu in 2013."

The company projects that a capital of more than $9.3million would be retained from the project.

Fiji Times Front Page Thumbnail

Kaila Front Page ThumbnailFiji Times & Kaila Frontpage PDF Downloads

Use the free Acrobat Reader to view.

Code Inward TTs Outward TTs
CAD 0.61820.5992
JPY 57.502354.5023
GBP 0.30880.3008
EUR 0.42110.4091
NZD 0.71840.6854
AUD 0.65730.6323
USD 0.47680.4598



Exchange Rate updated on 9th October 2015

Today's Most Read Stories

  1. Konrote for President
  2. Tough walk
  3. 'Move Fiji forward'
  4. Sand dunes training for the national 7s squad members
  5. Stand tall, proud
  6. Police boss refutes radio claim
  7. Call to be 'relevant'
  8. Fiji Day celebrations focus on children, youths
  9. Elderly not forgotten on Independence Day
  10. Clustered farming way forward

Top Stories this Week

  1. Rugby outcry Monday (05 Oct)
  2. Fisherman has whale of a day Tuesday (06 Oct)
  3. Family robbed, fear for lives Monday (05 Oct)
  4. Mum upset Wednesday (07 Oct)
  5. The murders and tragedies of Vatuwaqa Tuesday (06 Oct)
  6. Death classified as unnatural Thursday (08 Oct)
  7. Sex offenders top list, taxpayers foot $15,660 per day Tuesday (06 Oct)
  8. FRCA duo sent home Wednesday (07 Oct)
  9. Ganilau a nominee Thursday (08 Oct)
  10. Fiji thrash Uruguay 47-15 Wednesday (07 Oct)