Fiji has the potential to boost its GDP growth by focusing on the mining industry, particularly through the exploitation of copper resources. Dr. Kishti Sen, ANZ’s senior economist for the Pacific, highlighted a significant copper discovery in Namosi, which is currently being leased by a major global copper producer. During a media roundtable in Suva, he expressed concerns about the barriers preventing Fiji from bringing this valuable resource to global markets.
Dr. Sen emphasized the need for diversification away from tourism, arguing that the mining sector could play a vital role in economic growth due to the expected ongoing demand for copper, especially within the context of global electrification efforts. He urged Fiji to unite stakeholders and explore options for effectively harvesting and exporting these resources.
While acknowledging the Namosi project as just one opportunity, Dr. Sen noted the potential for other discoveries in the region. He reassured landowners that resource development could be beneficial for them and outlined several ways they could engage, such as taking equity stakes in projects. This involvement could lead to better compensation and ensure their participation in project benefits.
Dr. Sen stressed that landowners should have an active role in negotiations to avoid being sidelined. Their involvement from the project’s inception could foster understanding and support for the mining initiatives. He also underscored the importance of responsible environmental practices throughout mining operations to gain public acceptance and ensure project viability.