FIJI: Vatukoula gold mine to be sold to UK company
Updated
Fiji's Vautkoula gold mine is to change hands again with the UK-based company, River Diamonds, signing an agreement to become buy out the current owner. The deal will see River Diamonds pay just over 71 million Australian dollars in cash and shares for the parent company of Westech, which has operated the mine since it closed down in late 2006. River Diamond's Chairperson, Colin Orr Ewing, says progress at Vatukoula since it re-opened in August, has been excellent. The buy-out is conditional on the approval of River Diamond shareholders and will see the UK company become the sole owner.
Presenter: Jemima Garrett
Speakers: Brian Wesson, Managing Director Westech
