Fiji has struck gold.
Tomorrow there is expected an announcement by Vatukoula Gold Mines PLC that new reserves worth US$3 billion have been discovered.
Fiji currently operates a royalty on gold of 2.5%. Adolf's advice to The Commodore is to immediately impose an export tax on gold of 5.0% on the grounds that Fiji needs the money and if the miners don't like it they can leave the bloody stuff in the ground.
If the reserve is mined over ten years, The Commodore can look forward to an annual windfall of $US 22.5 million plus all the associated jobs with their economic multiplier effect.
Guest post: Losi Filipo
43 minutes ago