Cash injection for Fiji gold mine

Emperor Mines said yesterday it would get a A$10 million ($11 million) loan from its key shareholder to help pay for a revamp of Fiji's only gold mine, boosting its share price.

The Australian mining company said it had finalised a convertible loan facility with the South African miner DRD Gold, which owns 43.5 per cent of Emperor.

The funds are to be used to combat a rise in worker fatalities and tap richer gold veins at the Vatukoula mine, the company said.

Emperor shares, which have tumbled more than 60 per cent this year, jumped 15.22 per cent to 26.5Ac following the announcement.