Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Reefton Gold Project - GRD McRaes Release


MEDIA STATEMENT

21 August 2001

Reefton Gold Project

The Company was pleased to see that the New Zealand Prime Minister, Helen Clark, yesterday in a television interview outlined the courses of action available to GRD in relation to the development of the Reefton Gold Project. Those options were as set out in the Company’s announcement on Friday 17th of August

The Company can proceed with the smaller sized mine which it has had permission for, for the last seven years. GRD will review this option.

An early priority is to arrange a meeting with the Minister and her officials to determine the reasons for the decision and to understand the nature and extent of her concerns. Subsequently. GRD will re-apply for a variation that modifies the overall impact of the project.

The Company could appeal the decision, and that means the whole decision making process would be open to scrutiny. The Company would look at the trail of advice and see if Minister Sandra Lee has made any procedural error. The Company will seek advice on the judicial review process to ascertain whether any action should be considered.


The project variation will include transporting concentrate from Reefton to the processing facility at Macraes thereby eliminating a substantial portion of the process plant and the need for additional tailings capacity. The Company also intends to work with any technical or scientific consultants from any relevant local or national government department or authority in progressing the Reefton Gold Project.

GRD is clear in its view that this project is environmentally, economically and socially positive for New Zealand.


ENDS


For further information contact :
Angus Kennedy-Perkins
Telephone : Australia (08) 9278 1888 or New Zealand (03) 474 8237
E-mail : grd@grd.com.au

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news