AUSTRALIAN COMPANY TO MINE MAGNETITE FROM FIJI

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Amex Exploration plans to mine two million tons in 15 years

By Nasik Swami SUVA, Fiji (Fijilive, June 20, 2011) – In Fiji, an Australian company Amex Exploration has show interest in mining magnetite from the Ba River mouth.

Mining Manager Venasio Nasara said Amex Exploration has confirmed that the river mouth is rich with magnetite and will begin mining soon.

Nasara said there is a possibility of mining two million tonnes of magnetite in the next 15 years.

He said the company has briefed the landowners on their procedures and how they will minimize environmental impact.

Magnetite is an important ore of iron. Its perfect crystals are also popular among mineral collectors, and the magnetic Lodestone variety is popular among amateur collectors.

This mineral is also of significant scientific interest because of its special magnetic properties.

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