Fiji has opportunities to enhance its GDP growth through the mining sector, particularly in copper extraction. Dr. Kishti Sen, a senior economist for the Pacific at ANZ, noted the significant copper discovery in Namosi, which is held by a leading global copper producer.
During a recent media roundtable in Suva, Dr. Sen raised questions about the barriers preventing Fiji from utilizing this resource for international markets. He emphasized the importance of diversifying the economy beyond tourism, stating that the mining industry holds substantial potential, especially as copper is an essential metal that will be in demand for decades due to its role in electrification.
Dr. Sen called for greater collaboration among stakeholders to explore how to tap into and export these resources effectively. He mentioned that the Namosi project is just one discovery, implying that there could be more untapped mineral reserves in the country.
He also highlighted the need for landowners to be included in the benefits of resource development. By participating in equity ownership or advocating for fair royalties, landowners can ensure localized advantages from such developments. Dr. Sen stressed that landowner engagement from the project’s outset is crucial, as their understanding of the benefits will encourage their support.
Moreover, he underscored the importance of environmental considerations in mining operations, particularly regarding waste disposal. With responsible practices, mining projects can be successfully initiated and maintained.