According to a report from Fiji Times, the first shipment of bauxite this year, valued $2.6 million, is being loaded in Bua bound for China.
Ministry of Lands and Mineral Resources acting director Apete Soro confirmed the news that total bauxite tonnage of 57,960 was being loaded by the Aurum Exploration Fiji Ltd in Bua. Aurum Exploration's Navakasiga jetty will carry the first shipment of 2018 to China. The bauxite is being loaded on a barge, which is then transported to a mother ship for sail.
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Mr Soro is of the view that the value of the bauxite varies according to the global market prices of the mineral or commodity and the price is calculated at the time of sale. He confirms that the cost of the shipment is about $2,666,160, subject to rate changes.
Mr Soro said the export market situation depends on buyer's demand for the commodity and commodity price in international market and hence, would always fluctuate.
He adds that for Fiji bauxite, they have a consistent buyer that sources its bauxite from XINFA Mining.
Since mining started in 2010 on Vanua Levu to June 2017, total bauxite export from Fiji raked in $52.2m and with the inclusion of this year's shipment, total income stands at $54.8m.
Since 2015, this is the fourth shipment of bauxite from Fiji. In 2015, Aurum Exploration Fiji (XINFA Mining) had exported 1.2 million tonnes of bauxite worth $48m. In August 2016, the company exported 69,000 tonnes of bauxite valued at $1.4m and in 2017, Fiji exported only one shipment of bauxite valued at $2.8m.
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