Business | SUNBIZ

Lion One Secures Over $80m For Complete Mine Construction

The Lion One deal is Nebari's first transaction in Fiji.
21 Jan 2023 13:17
Lion One Secures Over $80m For Complete Mine Construction
On track to meet production dates, Lion One Fiji landed part of the processing machinery this week. Seen here, at the company’s Waimalika storage yard, Nadi, the arrival of grinding mills heralds more good news for the country’s next gold producer. Photo: Waisea Nasokia.

Confidence in Fiji’s gold min­ing industry and foreign in­vestment took a major leap this week with news that Lion One has partnered with a successful American investment fund to complete the construction of the Tuvatu gold mine in the upper Sabeto valley, with completion of the project expected by late 2023.

An announcement from Lion One Metals Limited in Canada highlighted a funding package providing over F JD $80 million of capital from NEBARI, a Miami ­based fund with affiliate partners in London, Switzerland, Spain, Vancouver, and Anchorage, Alaska.

Nebari’s mining investments span the globe from Africa to Australia, and throughout the Americas.

The Lion One deal is Nebari’s first transaction in Fiji.

When contacted for comment, Lion One chairman and chief executive officer, Walter Berukoff, said: “We are extremely pleased to have secured Nebari as a financial partner and major shareholder in the development and future success of Tuvatu.

They are a vastly experienced group, are aligned with our key values and stake­holders, and have delivered a creative solution to bring the Tuvatu project to completion and enhance shareholder value tremendously.”

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 Feedback: frederica.elbourne@fijisun.com.fj



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