The Reserve Bank of Fiji (RBF) has provided clarification regarding the reporting of gold production in Fiji, particularly following changes made by Vatukoula Gold Mines Limited (VGML) in their production approach. As VGML has shifted its focus to producing gold concentrates, the RBF now presents data for gold ore and gold concentrates separately. It is important to note that these figures should not be interpreted as an overall measure of Fiji’s gold production.
Ian He, vice president of VGML, addressed concerns about a perceived decline in the company’s gold production last year due to this transition. He emphasized that contrary to earlier reports of a 60% drop, Vatukoula’s production is on the rise, with 2025 showing increased outputs instead.
In its December Economic Review, the RBF indicated a 28.2% decrease in gold ore production, primarily driven by a 62.4% drop at VGML, although this was partially countered by a 23.1% increase at Tuvatu Gold Mines. RBF Governor Ariff Ali explained that the misunderstanding arose from the broad reference to ‘gold production’ which did not specify that the reported decline pertained solely to gold ore production.
Historically, when both VGML and Tuvatu produced gold in ore form, the RBF reported these as a collective figure for gold production. However, with VGML’s recent shift to gold concentrates, the reporting practices have adjusted to reflect the distinct stages of processing for gold ore and concentrates separately. The December Economic Review noted that VGML had produced 12,400 ounces of gold concentrates for the year.
In light of these updates, Ali reiterated that VGML’s overall gold output, measured in net contained gold, has not declined. He urged that the decline in reported figures relates only to gold ore and should not be misinterpreted as a decrease in Fiji’s total gold production. This clarification brings a positive outlook, illustrating the adaptability of the gold mining sector in Fiji and its ongoing contributions to the economy despite changes in production methods.