WEST RENNELL BAUXITE ROYALTY PAYMENTS DELAYED
A Bauxite stone. Photo credit: Fine Minerals online.
Bauxite-royalty payment for West Rennell Resource owners has again being prolonged.
This is because the Ministry of Mines demands that bauxite samples from West Rennell to be tested to determine their actual value.
This should be the final process before the landowning groups receive their respective payments.
Chairman of West Rennell Resource Council Mr Dicta Maitaki confirms this to SIBC News today.
“As I understand, an officer went down to Rennell to collect the samples so he will bring them back and then the government will then send it to an independent tester to test the grade of the bauxite and the price will be determined based on those test results.”
SIBC News understands the landowning groups are yet to receive any of their payments from a total of six shipments of Bauxite exports from late 2014.