Gold is back as production glitters
Mon April 01 2024
Fiji’s gold production has clawed its way back into economic significance with production from Lion One Metals’ Tuvatu Alkaline Gold Project officially reflected in Reserve Bank of Fiji data.
The turnaround is reflected in RBF’s annual gold production statistics which showed significant improvement from a negative 10.8 per cent growth in December 2023 to a positive growth of 68.1 per cent in January this year and 41.4 per cent in February.
“In the year to February, woodchip (-45.5 per cent), sawn timber (-24.3 per cent) and mineral water(-28.3 per cent) production noted significant contractions. However, given the start of production at the Tuvatu goldmine, total gold output expanded by 41.4 per cent in the same period.”
RBF stated in its latest March economic review released last week. This, it added, included production from both Vatukoula and Tuva mines.
In its latest update early this month, Lion One said its Tuvatu project is currently in the pilot plant stage of operations.
“The focus of mining operations to date has been on the development of underground access. Open stope mining is starting in March and is set to increase throughout April and May with the introduction of mechanised mining.
“Mill throughput of approximately 26,000 tonnes is anticipated for the three-month period from March to May. Gold production is anticipated to increase during this period as a result of the commencement of open stope mining and full commissioning of the processing plant,” the company stated.
Source: https://www.fijitimes.com.