Fiji's Emperor Gold mines is shedding staff and seeking help from both the Fiji government and the ANZ Bank, after a reassessment of its ore body resulted in a 22 per cent reduction in the mine's known reserves. After the announcement of the reassessment, earlier this week, Emperor shares dropped to a record low of 22 cents, recovering to the mid to high 20c range by the end of the week. The latest announcement follows a series of setbacks and losses. In June, it was hoped a new mine management plan would start to reverse Emperor's downward slide.
Breaking News
FIJI: Australian recruitment proposal
Fiji's military has expressed concern at the prospect of the Australian Defense Force recruiting its highly trained personnel. In August, Australia's Defence Minister Robert Hill revealed he was examining a plan to address the shortfall in army reserves by recruiting around 2000 trained military personnel from across the Pacific. If the plan proceeds, the recruitment process would be similar to that in Britain,
where foreign nationals - including many Fijians - are serving, often in front line situations. However, a spokesman for Fiji's military says the armed forces are unhappy at the prospect.
Breaking News
Wallis & Futuna
Move against the king now imminent. Tension continues to mount in the French territory of Wallis and Futuna
this week, with pro-reform campaigners now ready to move against the
King as early as this Sunday. And the to do over the fate of the
86-year old monarch, Lavelua Tomasi Kulimoetoke, has already spilled
over into New Caledonia, home to some 20 thousand expatriate Wallisians.
Pro-reform chiefs and nobles say the king has already been deposed and
want him replaced by a high chief, Sosefo Mautamakia. But the expatriate
community in Noumea is rallying around King Kulimoetoke, with many
community members returning to Wallis this weekend to lend their support
to the King.
Breaking News
PNG
Anti-corruption NGO challenges proposed laws
In Papua New Guinea, the Coalition Against Corruption NGO has re-launched a challenge to two controversial bills, to be debated in
parliament next month. The bills include a proposal by the member for Pogera, Kapa Yarka, to protect corrupt politicians from being dismissed from office if found guilty of breaching the leadership code. The other
proposal is to increase the MPs' slush discretionary spending fund from
500 thousand kina to one million, 500 thousand kina. Now, the Coalition
- led by Transparency International - says it plans to do everything in
its power to stop the bills being passed.
Breaking News
Go To Page: 1 2
