Vatukoula

A new $10Mil Vatukoula Shaft ready for next year

Preparations for the construction site are in full swing, the ground-breaking is scheduled for 8 May. Vatukoula Gold Mines is building a new well. It is scheduled for completion early next year with an initial $10 million outlay. Dolphin is a new 700 metre pit to improve air circulation in Philip Streethaft.

It will be the first such mine in Vatukoula since the Philip mine was built in the mid-1980s by the former joint venture between Emperor Gold and Westernining. As well as improving the ventilating and working environment for Philip mine, the aim of the scheme is to open up new areas for mines.

Even though preparations for the construction site are in full swing, the ground-breaking is scheduled to take place on 8 May. In the 1980s, the company's Surface Design Manager, Onisimo Fonmanu, said that there was also an old well there. The new well is estimated to be around 700 meters below ground and the contractor has commissioned experts from China to complete the work.

It would be the primary use of the wave similar to an extract fan. Mr Fonmanu said: "Philip well needs more airflow than it currently has. From Philip colliery a channel is being excavated to connect with Dolphin colliery, and this new line is being used to draw fresh out of Philip colliery.

They had to do the work carefully, because while the pit was getting lower, they had to make sure that the sides did not give way.

Gold Mines plc: Personal company information

The Vatukoula Group is an associated corporation engaged in the prospecting, discovering and developing of mines. It owns 100% of the shares in the Vatukoula goldmine on the Pacific island of Viti Levu, Fiji. Founded in 2004, Vatukoula was founded and is headquartered in London, UK.

The Vatukoula Gold Mines plc is a wholly owned company of Zhongrun International Mining Co. At Vatukoula Gold Mines plc no key executives have been registered. The Vatukoula Gold Mines PLC common stock (United Kingdom) will be removed from Other OTC with effect from January 4, 2017. Information and information presented in this section is prepared and maintained by S&P Global Market Intelligence, a business unit of S&P Global.

If you have any questions, please do not hesitate to directly ask S&P Global Markets Intelligence by click here. Delay in submitting real-time information for at least 15 mins.