Vatukoula Gold Mines shipped $118 million worth of gold and silver between 2019-2020, states the Ministry of Lands and Mineral Resources annual report that was tabled in Parliament on Monday.
The report stated 34,216 ounces of gold and 21,111 ounces of silver were produced at the Vatukoula Gold Mines.
The company paid $3.5 million in royalty to the ministry, out of which $2.8 million was paid to landowners.
“For the financial year 2019–2020, two mining companies were producing and exporting minerals namely Amex Resources Pte Ltd (iron sands) and Vatukoula Gold Mines Pte Ltd (gold and silver),” stated the report.
“A total of $2,856,692.87 was paid out to landowning units from royalty received from mineral production at SML 55 — Vatukoula Gold Mines Ltd mining operation.
“At total of $267,855.53 was paid to the Nasomo landowning unit while $2,588,837.34 was paid to VGML as the freehold landowner.”
Amex Resources Ltd shipped $6.6 million worth of iron magnetite between 2019-2020. The company paid $201,000 in royalty to the Ministry of Lands and Mineral Resource.
