123 Nasomo Landowners Trust members receive $505 each as mineral royalties

123 Nasomo Landowners Trust members in Vatukoula have received their 9th payout of $62,148.30 as mineral royalties.

The Mineral Resources Department says each recipient received $505.25.

The Permanent Secretary for Lands and Mineral Resources, Dr Raijeli Taga says the mineral fair share royalty payout is the result of gold and silver mined beneath the Nasomo land for the period of June 2020 to August 2020.

She says the value of a mined commodity was approximate FJ$62,148.30 in value.

Taga says this payout is in accordance to Section 5 of the Fair Share of Mineral Royalties Act 2018 which states that 80% of mineral royalties be given to landowning units or customary fishing rights holders and 20% to be retained by the State.

She says this fair share payout to landowners is a benefit from the use of their land for mining.

Taga says the payout aims to contribute towards socio-economic development, economic empowerment of indigenous landowning communities, boost local economic activity in rural areas and improve quality of life.

She has also advised the trust members to utilize their money wisely and use it for the benefit of their families and the mining community.