A $200 million investment project is now underway after the ground-breaking ceremony for the new Amex Resources Limited’s Lautoka Port Facility. More than 300 jobs will be created as work continues on the major iron sand mining project in the Ba delta area. Prime Minister Commodore Voreqe Bainimarama said the iron sand concentrate that will be dredged in the Ba delta will be transported to Lautoka where it will be processed and exported to markets overseas. He said production could rise as high as 1.5 million tonnes a year. Commodore Bainimarama said the company will use barges instead of trucks to transport the iron sand concentrate from Ba to Lautoka. He said all the factors were analysed before the mining project was approved. Commodore Bainimarama said Amex Resources is a listed company on the Australian Stock Exchange and has major shareholders in China. Millions have already been spent on the exploration works. The Prime Minister said this will also complement government’s efforts to dredge the Ba delta to reduce the frequency of flooding in the area. He added that there is a growing sense of optimism about Fiji’s economy as we see investments of all sorts wrap up around the country. According to the Reserve Bank of Fiji statistics, our economy is expected to grow as much as 3.6% this year, new job advertisements are up by 14%, new bank loans for investments have risen by 109% and as of last November imports of investment goods have increased by 27%
Posted on: Sun, 09 Mar 2014 07:55:52 +0000