Geothermal exploration interest in Fiji
July 22, 2012 7:15 pm
Fiji will soon grant two geothermal exploration licenses.
There are currently four spots of geothermal activity in Fiji. These are Savusavu, Labasa, Sabeto and Vatukoula.
Assistant Director Mining Venesio Nasara says a company has applied for exploration at Sabeto and Vatukoula and another company has expressed interest for exploration at the Savusavu spot.
Nasara says this is good for Fiji as geothermal exploration is an expensive exercise.
Geothermal exploration basically when it comes to trying to reel into an area that has geothermal activity – it quite expensive – its not just a thousand dollars – we are talking about millions here. There is a huge risk when you are drilling into an area that has hot-water so you have to re-design your equipment to suit the purpose or intention. There are not a lot of companies that have the money or the expertise.
Government has so far granted over 50 mineral exploration licenses.
Nasara says this indicates the level of interest investors have in Fiji.