The purchase would allow the North Vancouver miner to prepare for drilling at its 100%-owned Tuvatu gold project.
Fiji Mining News
The Fiji government is very much open to investment by foreign companies; it wants to bring more jobs into the mining industry
With the price of gold staying firmly above $1,300/oz, Brien Lundin, editor of Gold Newsletter, discusses the state of the market and several top picks.
The project is expected to run for three months and consists of a combination of infill and step out holes, totaling 5,000 meters of diamond drilling near Nadi on the island of Viti Levu in Fiji.
Villagers of Nawailevu in Bua have benefitted from the bauxite mining which is planned for two more districts in Bua.
APART from being an employment provider for most people in the Northern Division, the bauxite mine in Bua also generated farming ideas for villagers.
Radio Fiji reports the island's Prime Minister Commodore Voreqe Bainimarama opened the Bua bauxite mine at Nawailevu in Bua province on Tuesday. Mining and exporting work at the mine is expected to commence straight after the opening of the mine today. Nawailevu will be Fiji's first bauxite mine and will become the third operating mine in Fiji. The other two are the Vatukoula and the Wainivesi gold mines.
Junior zinc producer Canadian Zinc (TSE:CZN) reported a $5.3 million loss in the third quarter, which it attributed to higher exploration expenses and losses in the value of its shares in a Fijian mine.
Lion One Metals Limited (TSX VENTURE:LIO)(FRANKFURT:LY1) (the"Company") is pleased to announce 2012 work plans for its Tuvatu gold project ("Tuvatu") on the island of Viti Levu in Fiji. Highlights of the 2011 work program were the discoveries of additional high grade surface stockwork zones, and confirmation of sufficient porphyry-style mineralization in drill core samples (see news releases dated March 22, May 27, and July 20, 2011) for the Company to justify commencing a work program to quantify the disseminated gold porphyry mineralization in addition to the currently known higher-grade epithermal resource.
The copper mining project that is intended to begin in Namosi next year will inject approximately FJ$2 billion [US$1,161,770,000] into Fiji’s economy.