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

 

Final Frontier: Rocket Lab And NASA Sign Commercial Space Launch Agreement

Rocket Lab has signed a Commercial Space Launch Act Agreement with the National Aeronautics and Space Administration (NASA). The agreement enables Rocket Lab to use NASA resources - including personnel, facilities and equipment - for launch and reentry efforts. More>>

ALSO:

Scoop Business: Wheeler Downplays Scope For ‘Large’ Rates Fall

Reserve Bank governor Graeme Wheeler says some market commentators are predicting further declines in interest rates that would only make sense for an economy in recession, although some easing is likely to be needed to maintain New Zealand’s economic growth. More>>

ALSO:

Ruataniwha Dam: Consent Conditions Could Mean Reduced Intensity

Legal advice sought by the Hawke’s Bay Regional Council on the Ruataniwha Dam consent conditions has confirmed that farmers who sign up to take water from the dam could be required to reduce the intensity of their farming operation to meet the catchment’s strict nitrogen limit. More>>

Health And Safety: Bill Now Sees Rules Relaxed For Small Businesses

Health and safety law reform sparked by the Pike River coalmine disaster has been reported back from the industrial relations select committee with weakened requirements on small businesses to appoint health and safety representatives and committees. More>>

ALSO:

Bearing Fruit: Annual Fruit Exports Hit $2 Billion For First Time

The value of fruit exported rose 20 percent (up $330 million) for the June 2015 year when compared with the year ended June 2014. Both higher prices and a greater quantity of exports (up 9.0 percent) contributed to the overall rise. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news