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

 


Chatham Rock files second EEZ marine consent application

Chatham Rock, would-be seabed phosphate miner, files second EEZ marine consent application

March 31 (BusinessDesk) - Chatham Rock Phosphate, which wants to mine phosphate nodules from the seafloor on the Chatham Rise, has submitted a draft marine consent application to the Environmental Protection Authority.

The application is the second to be submitted under new EEZ legislation. TransTasman Resources, which wants to hoover ironsands off the seafloor more than 20 kilometres off the coast from Patea is currently going through the first ever hearings under the new regime.

CRP’s application comes after more than four years’ work and $25 million of investment in environmental impact assessments, market evaluation, and development of relationships with mining partners, most notably Dutch dredging firm Royal Boskalis.

Its plans are heavily opposed by the fishing industry, which fears sediment plumes from the activity will damage spawning grounds for orange roughy in an area where the fishing method known as bottom-trawling has been banned.

CRP already has a mining permit, which was granted last December, but the EPA process is equivalent to a resource consent, and will assess the project on environmental impact grounds.

The EPA will appoint a panel of commissioners to consider the application, with CRP chief executive Chris Castle expecting a decision “in November after a full public process.”

“Including the proceeds of the rights issue presently underway, CRP has raised over $27 million from its existing shareholders and through placements to qualified investors to finance extensive spending on science-based research,” said Castle, who is shopping the project to investors in London at present.

“Rigorous research by scientists has considered the relevant facets of what we propose and demonstrates how we can minimise and mitigate environmental impacts,” he said in a statement.

CRP is arguing the phosphate mining project would free New Zealand from around $100 million of imports annually of phosphate – a key input for New Zealand farming - from disputed territories in the Western Sahara, and could produce a new source of exports.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Insurers Up For More Payouts: Chch Property Investor Wins Policy Appeal In Supreme Court

Ridgecrest NZ, a property investor, has won an appeal in the Supreme Court over insurance cover provided by IAG New Zealand for a Christchurch building damaged in four successive earthquakes. More>>

ALSO:

Other Cases:

Royal Society: Review Finds Community Water Fluoridation Safe And Effective

A review of the scientific evidence for and against the efficacy and safety of fluoridation of public water supplies has found that the levels of fluoridation used in New Zealand create no health risks and provide protection against tooth decay. More>>

ALSO:

Scoop Business: Croxley Calls Time On NZ Production In Face Of Cheap Imports

Croxley Stationery, whose stationery brands include Olympic, Warwick and Collins, plans to cease manufacturing in New Zealand because it has struggled to compete with lower-cost imports in a market where the printed word is giving way to electronic communications. More>>

ALSO:

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news