10-year extension on mining lease
10 August, 2022, 6:30 pm
The Fijian government has extended the mining lease for Lion One Metals that operates the Tuvatu Gold Mine by another 10 years that will end on February 28, 2035.
The company states this license will be renewable.
“I am proud to say that it is with great elation that the Government of Fiji has renewed our special mining lease for the Tuvatu Alkaline Gold Project for another ten years,” said Lion One CEO Walter Berukoff.
“This lease extension sends a clear message to the world that Fiji continues to be open to public markets which can access critical capital to enable responsible mining projects to be built.
“Responsible mining will enhance the local socio-economic conditions for all Fijians.”
Mr Berukoff said they had invested more than $140 million into the local economy to date.
The development of Tuvatu is guided by Lion One chief operating officer Patrick Hickey, who leads a management team of nine and staff that includes some of the most skilled and experienced exploration and underground mining experts in the South Pacific.
There are six active drill rigs, an Exploration decline measuring over one kilometre in length, and a fully operational on-site analytical sampling laboratory at production levels threefold from earlier this year.
“We very pleased to have been granted this extension after the rigorous assessment process that factored not only the geological and economic potential of Tuvatu, but our environmental risk management strategy, and local landowners and community relationships,” said Mr Hickey.
“This milestone demonstrates the tremendous support the Fiji Government has for both Lion One and its mining industry as we continue our commitment to the communities that we operate in to provide direct employment opportunities and peripheral economic stimulus.”