Fiji’s mining industry is set to see a new player that will excavate iron ore from the Ba delta and pump $75 million into Fiji’s economy.

Prime Minister Voreqe Bainimarama said the Australian company, Amex Resources Limited, will carry out the venture over a 21 year period and provide 300 full time and 50 short-term employment opportunity for Fijians.

This, as the company received its licence from the Ministry of Lands and Mineral Resources at the Prime Minister’s Office today.

The company is expected to extract close to $150 million worth of iron ore from the Ba River, which the head of Government and Minister for Lands and Mineral Resources says will have more than one benefit.

“In addition to the positive economic impact this project will have on the Fijian economy, increased and consistent activity in and around the river will also assist in the necessary dredging to help avoid future flooding”, Prime Minister Bainimarama said.

There has been a lot of interest in the mining sector and in the last year it has contributed immensely towards Fiji’s growing economy.

However, all these mining ventures have to go through a thorough and rigorous approval process before being granted a licence.

“It is through such consideration for environmental protection and renewal that my Government felt comfortable in both the experience and growth strategy of Amex to pursue this project,” the Prime Minister said.

He highlighted the proactive stance by Government towards positioning Fiji as a destination for foreign investments, mainly by creating the right environment through the systematic elimination of corruption in the public and private sector.

Aside from mining, the Prime Minister said there has been growth registered in both the telecommunications sector as well as the clean and renewable energy sector.

“Also in the past year, Fiji and its leadership attended and hosted international conferences on matters of international trade standards and foreign policy; opened new Embassies around the world; and strengthened ties with international partners as they contributed to flood rehabilitation efforts,” he said.