Deep sea mineral exploration can become a major revenue earner for the nation, says Permanent Secretary for Lands and Mineral Resources Lt Col Neumi Leweni.
Lt-Col Leweni made the comments following the gazetting of the revised fees schedule for deep sea mineral exploration. The Mining Amendment Decree No. 39/2010 was gazetted in July 2010.
“This new fee schedule will give investors a competitive fee structure that aims to promote deep sea mineral exploration in Fiji’s Exclusive Economic Zone (EEZ).
“What this essentially means is that there will be more revenue for government and the nation. At the same time, the new fee structure will also enable Fiji to be more comparable and competitive with countries like Papua New Guinea and Tonga that are currently engaged in similar exploration activities,” Lt Col Leweni said.
He said Fiji’s minerals sector is undergoing various reforms which will eventually be beneficial to the nation, the resource owners and the investors.
“Government will ensure that the reforms will not only better facilitate the growth of the sector, but that they will eventually result in the general good of the nation in terms of our socio-economic development,” Lt-Col Leweni said.
Lt. Col N Leweni
Permanent Secretary Lands Mineral Resources