24 Apr 2007

New goldminer sets up shop in Fiji

9:18 am on 24 April 2007

Three Fiji nationals have registered a company with the aim of doing exploration and mining in Fiji and the South Pacific.

The three directors of Viti Mining Limited are merchant banker John Sanday, rugby administrator Ratu Timoci Tavanavanua and surveyor and land developer, Michael Whippy.

Mr Sanday says they have already submitted two applications for exploration and one for mining to the Mineral Resources Department.

He says the application for mining is for a site near Sabeto in Nadi which could produce between 15,000 and 30,000 ounces of gold a year similar to the output of some smaller mines in Papua New Guinea.

He says they can have the mine up and running within 18 months of getting statutory approvals.

The company plans to raise capital locally or sell shares to the public and landowners.