Lion One offsets Vatukoula’s record

Canadian-backed gold mine Lion One has kept its end of the deal to push up production figures since its operation was commissioned.

That promise was evident in the December 2025 economic review by Reserve Bank of Fiji.

While gold ore production contracted by -28.2 per cent in the year to November, Lion One’s Tuvatu Gold Mine was instrumental in the offset of declining numbers.

Governor Ariff Ali said Vatukoula Gold Mines Ltd’s gold ore production fell by -64.2 per cent, but Tuvatu Gold Mines offset improvements by 23.1 per cent.

“The decline in VGML partly mirrors a shift in production to gold concerntrates, which totalled 12,400 ounced this year,” he said.

Attempts for comments from VGML were unsuccessful.

Meanwhile, Tuvatu gold mine went under new management in an effort to de-risk the project, scale up production and position Tuvatu as one of the standout underground gold mines in the world.

Australian-based mining investment specialist syndicate Arete Capital Advisory Pty Ltd will provide management services for the operation of Tuvatu Gold Mine for the next five years.

Arete said the Tuvatu gold project ranked amongst the best oppportunities ever reviewed.

“We see a clear pathway to unlock significant incremental value at Tuvatu through disciplined mine optimisation, targeted capital investment and an aggressive but data‑driven exploration program,” Arete representative, Campbell Olsen said.

Arete Capital Advisors has agreed to acquire, on a non-brokered private placement basis, $15,050,032 worth of shares.