Fiji has the potential to enhance its GDP growth through the mining sector, according to ANZ’s senior economist for the Pacific, Dr. Kishti Sen. During a recent media roundtable in Suva, he highlighted a significant copper discovery in Namosi, currently leased by a leading global copper producer.
Dr. Sen queried what obstacles are preventing Fiji from capitalizing on this resource and bringing it to the international market. He emphasized the importance of diversifying the economy beyond tourism, asserting that the mining industry, particularly copper, holds great promise. He noted that copper is a vital metal needed for the electrification journey, with demand expected to persist for decades.
With a successful discovery and strong investment backing, Dr. Sen urged Fiji to coordinate discussions among involved parties to explore ways to extract and export the resource efficiently. He pointed out that the Namosi project is just one example and that there may be additional discoveries waiting to be uncovered.
He reassured landowners that resource development would be beneficial for them, suggesting they could participate in several ways. Options include taking equity ownership in projects or seeking increased royalties, with government support available for necessary amendments to the Mining Act to ensure fair compensation for landowners.
Dr. Sen stressed the importance of including landowners in discussions from the project’s inception. When they understand the project’s advantages and feel involved, they are generally more supportive. He also underscored the significance of environmental responsibility, advocating for sustainable waste management and tailing disposal to ensure project viability.