The Government of Fiji has recently granted a licence to an unknown Korean company for the exploration of seabed minerals, The Fiji Times reports.
According to the Mineral Resources director Malakai Finau the minerals potential of Fiji is located in its Exclusive Economic Zone.
He was quoted as saying: “The key here is exploration not mining. The licences have been issued to a Korean company and a multi-national company while an Australian company’s application is being processed.”
He added that they are in a process of developing Fiji mining laws.
Until now, the government has issued 17 exploration licences of which two were for deep sea mining exploration.
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Press Release, May 23, 2013; Image: Nautilus