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Nasomo landowners receive over $57, 000 royalty

May 9, 2019 7:27 am

The Nasomo Landowners Trust received their third payment of the fair share of gold and silver royalties.

Over $57,000 was paid out from December 2018 to February this year.

This amount will be equally shared amongst 123 trust members for leasing their land to Vatukoula Gold Mines.

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Lands Minister Ashneel Sudhakar says the payout is aligned to the Fair Share of Mineral Royalties Act 2018 which states that 80 per cent of mineral royalties be given to landowning units and 20 per cent to be retained by the state.

Sudhakar encouraged the members of the landowning units to support Vatukoula Gold Mines as it continues to make a significant capital investment.

He also advised the recipients to sustainably manage the funds to ensure their future generation continue to reap the benefits of the mineral royalties.

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