Fiji has the opportunity to bolster its GDP growth by focusing on the mining industry, particularly with significant copper reserves identified in Namosi. During a recent media roundtable in Suva, Dr. Kishti Sen, a senior economist from ANZ for the Pacific, highlighted the involvement of a leading global copper producer holding the lease for this discovery.
Dr. Sen emphasized the need to address the barriers that prevent Fiji from exporting this valuable resource globally. He noted the call for economic diversification, expressing that reliance solely on tourism is insufficient. “The mining industry holds potential because copper is a critical metal that will be essential for the future electrification efforts and is expected to remain in demand for many years,” he stated.
He pointed out that with quality resources and investor support, it is crucial for Fiji to organize stakeholders to explore sustainable methods of resource extraction and exportation. Dr. Sen remarked that the Namosi project is just one of several potential discoveries that could be explored.
Additionally, he reassured landowners that resource development could be advantageous for them, suggesting that they could partake in project equity or seek increased royalties with government support. “It is vital for landowners to be involved in negotiations from the start, understanding the benefits of the project, to ensure their needs are met,” he explained.
Dr. Sen concluded by underscoring the importance of environmental considerations in mining practices, particularly regarding waste disposal, to successfully advance mining projects in Fiji.