News

Mineral sector set for growth

September 20, 2024 5:54 am

The contribution of the mineral sector to gross domestic product is expected to increase due to new mining investments and continued interest in mineral exploration.

Currently, the mining and quarrying sector contributes 0.5% of GDP.

This has been highlighted in the National Development Plan 2025-2029 and Vision 2050.

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The government notes that the potential for expanding Fiji’s mineral sector is promising, given its geological formation and strategic location in the Pacific.

Fiji has consistently been an exporter of minerals, primarily gold, which was valued at $79.1 million in 2023.

The global demand has shifted toward deep-sea mining, an area in which Fiji holds significant potential.

The plan also emphasizes the need to review legislation related to mineral resources and to formulate groundwater management regulations and laws that align with current development needs.