Amex Resource Limited, a Lautoka-based iron sand exporter, is experiencing a jump in performance, enjoying its most successful period in years. Recently, the company embarked on a three-day loading process for a batch of iron sand destined for China. This shipment marks the second batch of the year, with the company shipping roughly 50,000 tonnes of iron sand since operations resumed in September, according to General Manager, Alivereti Tuidravuni.
The operational improvement has been attributed to enhancements in equipment and management. According to Tuidravuni, working on a global scale has been instrumental in advancing the skills of the Fijian team. Particularly influential have been the Chinese experts, who have provided valuable guidance to the Fijian colleagues, despite language barriers. Nevertheless, the company is looking to fill certain technical positions, and currently employs about 100 people.
Australian investors in Amex, however, have expressed dissatisfaction with the current production rate, as profits are yet to be realized. In response to this, the board of directors have decided to increase their investment in the company, focusing on funding for advanced technologies. A three-phase upgrade plan has been launched, with the first initiative being the investment in a modern hydraulic cyclone device to improve productivity.
A financial commitment of $1.1 million from the Australian shareholders facilitated the acquisition of a second dredging ship from China, enroute to Fiji, enhancing production capabilities. The increased shipment frequency is expected following these tech upgrades.
However, despite falling short of investors’ expectations, the company appreciates the continuous support received and is eager to implement technological upgrades and update equipment. The new machinery and spare parts received over the past few months, mostly from China and New Zealand, are an indication of the investors’ commitment.
The technological upgrades will require skilled technical hands, thus Amex is currently hiring assembly workers and commissioning equipment installation. Further, due to the complexities associated with the new technologies, more experienced technical specialists are also needed.
While Tuidravuni acknowledges the developments, he also emphasizes the expectation of hard work. He notes that the second half of the year presents robust production tasks, reinforcing the need for all involved to appreciate the time urgency.