Fiji Gold For Open
p. 18 · Read in the full issue
Market
F p October, the Government of Fiji announced that following a directive from the International Monetary Fund on gold sales, 40 per cent, of the gold mined in the Colony may now be sold on the open market.
Australians interested in Emperor and Loloma Goldmines Fiji, are of the ooinion, however, that the con ditions under which this percentage may be sold severely limits any benefits the mines might get. They call it a “conscience saving move” on the part of the Fiji government.
Conditions are that the gold must
be processed or semi-processed; and that the buyer must possess a valid import licence for the country of final destination; that the gold be used for professional, industrial or artistic use (not for hoarding) and that all sales must be for dollars.
The Financial Review (Sydney) says that the last stipulation is likely to be the most restrictive as premiums are often paid for gold by those who have no dollars but would like them and because most legitimate users of the metal can get supplies through orthodox channels.