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

 

Scoop Business: NZ Dollar Catches Breath After "Goldilocks" Slump

The New Zealand dollar edged up following its dramatic slump yesterday after the Reserve Bank confirmed speculation it intervened in the currency market last month and PM John Key suggested a “Goldilocks” level far lower than at present. More>>

ALSO:

Biosecurity: Kiwifruit Claim To Hold Officials Accountable For Psa

Kiwifruit growers have joined forces to hold Biosecurity NZ accountable in the courts for its negligence in allowing 2010’s Psa outbreak that devastated New Zealand’s kiwifruit industry and exports. Foundation claimants representing well ... More>>

ALSO:

Poison: Anglers Advised Not To Eat Trout In 1080 Areas

With the fishing season opening in just a few days (1 October 2014), anglers are being warned by the Department of Conservation(DOC) not to eat trout from pristine backcountry waters and their downstream catchments, where the department is conducting 1080 poisoning operations. More>>.

ALSO:

Quotas: MPI Swoop On Suspected Fraudulent Fishing Activity

Ministry for Primary Industries (MPI) compliance officers swooped on a Hawkes Bay fishing enterprise today to secure evidence in an investigation into suspected fraudulent activity... “The investigation involves activity throughout the commercial supply chain – catching, landing, processing and exporting.” More>>

ALSO:

Scoop Business: Fonterra Slashes 2015 Milk Payout, Earnings Tumble 76%

Fonterra Cooperative Group cut its forecast 2015 milk price payout by about 12 percent, citing weaker global dairy prices and said there is a risk of further declines given strong global milk production. More>>

ALSO:

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news