AVQ 0.00% 2.5¢ axiom mining limited

Charles Kadamana | Loop Pacific | August 17, 2017 More mining...

  1. 615 Posts.
    lightbulb Created with Sketch. 102
    Charles Kadamana | Loop Pacific | August 17, 2017

    More mining companies have shown their interest in nickel exploration after the Japanese firm Sumitomo Metal Mining (SMM) announced it is withdrawing from Solomon Islands.

    One of them is Sunshine Minerals while two others are yet to confirm.

    Sunshine Minerals has been granted a letter of intent by the Solomon Islands Ministry of Mines for its application for a prospecting licence over the Jejevo deposit in Isabel province and a prospecting licence is expected to be issued in due course.

    The current mining company which still has interest is Axiom, despite not being granted the rights over the International Tender Areas after a legal battle with SMM.

    Government Minister and Member of Parliament for Gao/Bugotu constituency, Samuel Maneto’ali, who has the political leadership over the area, said more mining companies are trying to come in after SMM withdrew.

    He said he was not aware of SMM’s withdrawal until last week so he is not sure the reason behind the company’s decision to pull out.

    Maneto’ali said the country has lost one of the best mining companies because it has 400 years of mining experience and they have all the expertise and experience to carry out mining.

    “They have good standing in environment assessments because they have the technology. There we missed the best mining company,” he said.

    He said since they have withdrawn the only thing is to find other interested companies. He said since Solomon Islands lost one of the best mining companies the landowners must comprise.

    “They must organise themselves and agree to the best company not to lose any more interested investors like Sumitomo,” he said.

    Sumitomo Metal Mining (SMM) has withdrawn its nickel exploration in Solomon Islands
    because of slumping nickel prices and the loss of a legal dispute over mining rights.
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.