Polynesian phosphate plans boosted

P T AXTC „ . . . i mi P e , Phosphate in French Polynesia have been given a boost with the announcement from Tahiti that the project has been placed high on a list of economic priorities by the French-ruled Territory.

The most powerful local figure in Tahiti, the President of the French

Polynesian legislative assembly,

A lex and re Leontieff, said now that France was easing its control the territory would be looking to closer economic links with Australia and New Zealand.

TT . . , . .

Me listed phosphate mining as one of the projects which would be given top priority. ... 1 he phosphate project joint venture, Gie Raro Moana, has plans to mine a large area of Mataiva atoll, 300 km north of Tahiti. The partners in the joint venture company are Newmont Australia Ltd (49.5 per cent), Bureau de

Recherches Geologiques et’Minieres (26

per cent, the project managers), and Commco Ltd (24.5 per cent).

Newmont acquired its stake in its recent takeover of the Australian company originally involved in the scheme.

Australmin holdings ltd, but the venture

has been the subject of long and drawn

out negotiations.

Mataiva atoll is estimated to contain 20 million tonnes of phosphate, with assays higher than those found at the other two main sources in the region, Nauru and Banaba island. Banaba produced 25 million tonnes before it closed, while Nauru will eventually pass the 100 million tonne mark. Mataiva atoll is 10km by 6km, and the mine will involve excavating a large area of the enclosed and picturesque lagoon.

Phosphate from Mataiva, apart from generally higher grades, also has another advantage over other sources it has a slightly lower cadmium content. . .

Gadmium is considered one of the m °re polluting, non-degradable mineral elements. The deposit does have a s,i S htl Y hi g h calcite content but this is g enerall Y acceptable to Australian and New Zealand manufacturers.

The indication of encouragement from Papeete:is especially significant at a time w [ len Na ,ru 18 moving into the closing P hase of lts °'™ P hos P hate Newmont’s managing director, John

Quinn, said that he welcomed the indication that the project had been given enhanced priority. He said the scheme was a suitable replacement for Nauru as a source of phosphate in the region.

Before it was taken over, Australmin was pressing hard for the project to be approved. There was support from the territorial government in Papeete, and a taxation convention and mining con cession had been approved by the partners.

Australmin reported last year that final approval rested with the residents of Mataiva.

The phosphate mine is important to French Polynesia as it tries to cut the apron strings with Paris. The territory had a merchandise trade deficit in 1989 of CFPBI.4 billion.

A recent report from the bank of Hawaii said that, though an abrupt change in the French government’s role was not expected in the near future, the territory’s need to sustain itself on a more economically independent basis was still

an important challenge in the coming

years.

The report included mineral resources on the list of areas with good export growth potential. □