30 Mar 2007

Fiji's Vatukoula gold mine sale on hold

8:49 am on 30 March 2007

A report from Fiji says the sale of the shut-down Vatukoula gold mine by the Emperor Gold Mining Company, which was to have been finalised over two weeks ago, remains on hold.

Fiji TV reports that the final documents, which were to have been sighted, signed and sealed by the Attorney General's Office, remains pending.

It says the interim administration is demanding that Emperor fulfill what is called "a deed of rehabilitation" which details certain key financial obligations.

Emperor says it has paid out 3-million US dollars to mine workers who were laid off.

Emperor sold the gold mine to an unlisted Australian company, Westech Mining, earlier this month for an undisclosed sum.