Fiji has the opportunity to enhance its economy through the mining sector, according to Dr. Kishti Sen, a senior economist for the Pacific region at ANZ. During a recent media roundtable in Suva, Dr. Sen highlighted a significant copper discovery in Namosi, which is currently held by a leading global copper producer as a leaseholder.
Dr. Sen raised concerns about the barriers preventing Fiji from harnessing this resource for global markets. He emphasized the need for economic diversification, moving away from the heavy reliance on tourism, and pointed out the mining industry’s potential to contribute to GDP growth, especially considering the rising demand for copper, a vital metal for electrification over the coming decades.
He encouraged stakeholders to come together to discuss strategies for extracting and exporting the resource effectively, noting that the Namosi discovery is just one of many possibilities that may exist.
Regarding local landowners, Dr. Sen stressed the importance of their involvement in project development. He proposed that landowners should have the opportunity to take equity stakes in mining projects, thereby sharing in the benefits that result from resource extraction. He also mentioned supportive government measures to ensure landowners receive fair compensation, potentially through amendments to the Mining Act.
Dr. Sen conveyed that landowners should be included in negotiations from the beginning, as their understanding of the project’s advantages could foster broad support. He added that with responsible environmental practices, such as sustainable waste disposal, mining projects could be successfully initiated.