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

 


Queen’s head secures NZ Mint future


Queen’s head secures NZ Mint future

The New Zealand Mint has today re-signed a ten year deal with the government of Niue for the management of the Queen’s effigy on Niuean collectable coins.

The deal is worth a minimum of $6m over ten years to Niue and secures the NZ Mint’s future in the global numismatic market estimated to be worth more than $1b.

“A coin is not a coin without an official government effigy so to cement the relationship we have with Niue for another ten years is not only great for business but also pleasing from a partnership point of view,” says NZ Mint chief executive Simon Harding.

The design and production of collectable coins equates to 20 per cent of the NZ Mint’s total revenue. Ninety-seven per cent of production is exported, mainly to Europe.

The deal also provides a valuable cash injection to the economy of Niue. The small Island nation is self-governed in free association with New Zealand and is home to just 1,500 inhabitants. It relies heavily on international aid and is working very hard to reduce this dependence and be more self-sustaining long term. More than 20,000 Niuens are thought to live in New Zealand.

“Niue faces many challenges but today’s agreement is a continuation of a partnership which will generate a vital revenue source and shows we are ready and willing to do business and be more self-reliant. It’s a good day for Niue and a good day for the NZ Mint,” says Niue Premier Toke Talagi.

In a nod to the on-going partnership between the two parties, the NZ Mint also announced it will fund an annual scholarship for two Niuean secondary school pupils to attend the Outward Bound leadership course in Marlborough.

Ends


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

OceanaGold: Man Killed In Waihi Mine Accident

A 29-year-old man had died following a work place accident at OceanaGold mine, Waihi last night. The man was killed after the front end loader he was in rolled down a slope. The accident happened at approximately 6.30pm on Thursday night. More>>

ALSO:

Constructing Consent: Annual Housing Consents Highest In Over A Decade

More than 29,000 new homes gained building consent in the year to June 2016, up 16 percent from the previous June year, Statistics New Zealand said today. More>>

ALSO:

War Against Weevil For Future Peas: “No Peas, No Weevil” Ban Now In Place In Wairarapa

The Ministry for Primary Industries (MPI) has today placed a ban on growing peas within a specified area and placed controls on moving pea material (seed and untreated pea straw) within, in and out of this area for the next 2 years. More>>

ALSO:

Wood Producers: Crisis In New Zealand Log Supply

New Zealand wood processing leaders held a hui with senior government officials and political leaders in Whangarei yesterday to assess the acute log supply shortage to local mills in Northland. More>>

Consents And Taxes: Trustpower 'Very Disappointed' With Judgement

Trustpower is "very disappointed" with a Supreme Court ruling dismissing its bid to claim tax deductions on $17.7 million of project costs in a case closely watched by large-scale infrastructure developers. More>>

ALSO:

Fruitful Endeavours: Kiwifruit Exports Reach Record Levels

In June 2016, kiwifruit exports rose $105 million (47 percent) from June 2015 to reach $331 million, Statistics New Zealand said today. Overall, goods exports rose $109 million (2.6 percent) in June 2016 (to $4.3 billion). More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news