Exports generate $149million
16 September, 2023, 7:34 pm
GOLD, silver and iron magnetite worth $149 million was shipped off from Fiji in the 2020-2021 financial year, states the Lands and Mineral Resources annual report 2020-2021 that was tabled in Parliament this week.
For the Financial year 2020-2021, two mining companies, Amex Resources Pte Ltd (iron sand) and Vatukoula Gold Mines Pte Ltd (gold and silver), were producing and exporting minerals. $141,304,852.70 worth of gold was shipped out of Fiji with $4,239,145.58 received as royalty.
$1,095,296.18 worth of silver was produced and shipped off from Fiji with $32,858.89 royalty received.
Iron magnetite worth $7,582,883.42 was shipped away from Fiji with $236,758.72 received in royalty.
“The sum of $4,508,763.19 in royalty was received from mineral exports for the financial year from August 2020–July 2021 from mining of iron magnetite, gold, and silver,” the ministry stated.
“Subsequently, $334,255.01 has been paid to the Nasomo landowning unit while $2,488,424.38 has been paid to Vatukoula Gold Mines Ltd (VGML) who is the landowner for minerals mined from Special Mining Lease (SML) number 55.”