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Vuniwaqa Clarifies Tuvatu Mining Lease

Landowners will benefit from the two types of leases at Tuvatu in the hills of Sabeto in Nadi, says Minister for Lands and Mineral Resources, Mereseini Vuniwaqa. Responding to a
11 Feb 2016 10:15
Vuniwaqa Clarifies Tuvatu Mining Lease
Lease Agreement

Landowners will benefit from the two types of leases at Tuvatu in the hills of Sabeto in Nadi, says Minister for Lands and Mineral Resources, Mereseini Vuniwaqa.

Responding to a parliamentary question, the Minister said there were two leases offered – a surface lease which was for 21 years from March 1, 2014 and a mining lease for 10 years from January 22, 2015.

She said the surface lease premium of $1million was payable in two tranches; $700,000 upon grant of surface lease and $300,000 paid upon first gold production.

Surface lease rent of $30,000 per annum for the period of lease which is 21 years and that she said should be distributed as per iTaukei Land Trust Board (TLTB) process.

A sum of $10,000 per annum, she said, would be paid by the company (Lion One Limited) and equally shared to Yavusa Rarawaqa of Nagado Village and Mataqali Nabouwalu of Korobebe Village as training assistance. She said funds would be distributed to bank accounts registered with surface lease lessor – TLTB.

Edited by Manasa Kalouniviti

Feedback:  arieta.vakasukawaqa@fijisun.com.fj



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