Deep sea test drilling in Fiji’s Exclusive Economic Zone (EEZ) for Seafloor Massive Sulphides (SMS) is likely to begin in the next few years to see the level of minerals in Fiji’s waters.
Mineral Resources director, MalakaiFinau, said Fiji has the potential of minerals under the seabed within Fiji’s Exclusive Economic Zone which has been established over the years through past research.
“The key here is exploration and not mining,” he said.
“The licenses have been issued to a Korean company and a multi-national company while an Australian company’s application is being processed.”
Developing mining laws
Mr Finausaid there is a process in place where Fiji’s mining laws, especially on deep sea mining, will be developed.
“Although we don’t have a current law regarding deep sea mining, we have a policy that is the overall mechanism and is quite adequate at this time,” he said.
“As time comes we will be able to develop our own laws relating to deep sea mining.”
Explorations
Mr Finau said the total number of exploration licenses issued is 17 out of which two are for deep sea mining exploration.
Korea Ocean Research and Development Institute (KORDI), which has been issued with a research and exploration license,has reported findings of high grade mineral potential locations in the Western waters of our EEZ.
KORDI Minerals Limited director, Jang Wan Bang, said test drilling will begin in the next two years for further research.
“We have found a few locations with very high potential for SMS,” Mr Wan Bang said.
“This potential sites are between Fiji and Vanuatu but remains in the EEZ of Fiji and we have been researching from our vessel last year.
“Later this year, we will use underwater vehicles to get clearer pictures of the seabed before test drilling begins in three years’ time.”
— MINFO