axiom in solomon islands

23/3/10

Solomons puts hopes in mining.

http://australianetworknews.com/stories/201003/2854248.htm?desktop

The Solomon Islands Mining Minister, David Day Pacha, says he will soon be allowing international tenders for nickel mining in Isobel province.

The announcement was made on Tuesday, at the reopening of the Gold Ridge mine. It has taken 10 years after the ethnic violence in Solomon Islands to reopen Gold Ridge. But the Solomon Islands government and opposition both hope it will not be long before it is not the only mine in the country.

Prime Minister Derek Sikua praised Gold Ridge as a credible investor. Opposition leader Manasseh Sogavare said Gold Ridge compared favourably with much logging investment. He said attraction of genuine investors is a path Solomon Islands must pursue with tact and vigor. Mines Minister David Day Pacha said the preparations to go to tender for nickel mining in Isobel province are well under way. He said this was a sign of a growing mining industry in Solomon Islands.
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http://www.businessadvantageinternational.com/15_SI08_mining.pdf

2008 ?

The Solomon Islands sits within the rich mineral arc that stretches between New Zealand and Papua New Guinea, and already has a proven track record as a gold producer.
Prior to the unrest of 2000, the Gold Ridge Gold Mine on Guadalcanal Island was contributing 30% of the Solomon Islands' GDP. It closed due to the unrest, but
in our previous edition of Business Advantage Solomon Islands, published in November 2006, we reported on plans to re-open the mine.

In spite of delays related to financing and land ownership, solid progress has since been made by the mine's owners, Toronto-listed Australian Solomons Gold Limited (ASG).
"We have been drilling up there and we have recruited 200 people. Our best estimate for a start is October 2008, after that we have a 15-month construction program", explains ASG's CEO John Blake. "We are looking at 2010 first quarter for producing gold".
(continued)
ASG is not the only company working on developing the Solomons' gold reserves. Another, UK-based Solomon Gold, is exploring the Sutakiki prospect on Guadalcanal Island. In another recent development last year , Australian resources company Axiom Mining created a nickel exploration company, Bugoto Nickel Limited, with local landowners in Isabel Province. While negotiations are ongoing with landowners, the Solomons' Prime Minister Dr Derek Sikua has committed his Government to
opening up nickel exploration in Isabel Province.
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Axiom Mining Ltd - 16/9/09 - HALF-YEAR FINANCIAL REPORT
31 March 2009
SOLOMON ISLANDS LATERITE NICKEL
Progress continues to be made to resolve hurdles so that an application by the traditional landowners for prospecting licences over the San Jorge and Santa Isabel Island laterite nickel properties can be processed. Axiom fully supports the landowners activities and looks forward to a positive outcome that will permit cooperative development of this major project.
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March 2008
Article by The Australian Investor.
"Another area that represents low exploration risk is a project in the Solomon Islands, with a deposit that has been defined in the past by International Nickel. Currently, there are political difficulties and license issues, but Mr. McCarthy believes that when these issues are resolved this project has the characteristics to be a transforming event for Axiom".
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July 2008
wise-owl.com
Potential company maker if Axiom win massive project in the Solomon Islands. Axiom is vying for a large nickel laterite project which contains an estimated 159mt @ 1.25% nickel and 0.06% cobalt. If granted, Axiom will ultimately gain 80% of the project with 20% going to the landowners.
Japanese mining giant Sumitomo Metals is also laying claim to the project but currently doesn't have the support of the landowners. A decision in the High Court is anticipated in August that will allow processing of Axioms jv partners, the traditional owners, prospecting licence application. The project has the potential to generate US$ billions in revenue.
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Hopes new mining joint venture in Solomon Islands brings benefits.

5th December 2007.

The premier of Isabel province in Solomon Islands hopes a new mining joint venture will benefit all people in the area. Landowners have recently formed the Bugotu Landowners Association, and sought Axiom Mining as their major development partner, which will have 80 percent shares. Reuben Dotho says the province was not involved in the negotiations but he hopes the project will develop the area as a whole.

"We would like to see the benefits shared by the resource owners, the provincial government and all other stakeholders. And also we would like to see a development that does not disputes and disharmony throughout the communities".

Reuben Dotho expects the company will address any environmental and social issues that might emerge. Mr Dotho adds he's concerned about landownership issues that are historical in the area and that prevented the establishment of mining developments in the past.

Radio New Zealand International.