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

 


Offshore ironsands miner confident of consent

Offshore ironsands miner confident of consent

May 19 (BusinessDesk) – A company seeking permission to mine ironsands off the coast of Patea in New Zealand’s Exclusive Economic Zone says it is “confident” the project “can proceed.”

The statement from Trans-Tasman Resources follows today’s formal closing of the marine consent hearings by the Decision-Making Committee appointed by the Environmental Protection Authority to consider the application.

The DMC unexpectedly adjourned rather than closed the hearings on the last day of submissions, 10 days ago, while it considered whether it had all the information it required.

The last week of hearings were marked by the publication of a report from EPA staff that raised serious concerns about whether there was sufficient information available to draft effective regulations to reduce the environmental impacts of the project.

TTR chief executive Tim Crossley said: “While it is easy for submitters and technical experts to identify further work that could be done, there is also a limit to how much information can realistically be expected of an applicant before consent is granted.

“Based on the independent expert evidence and the joint witness statements, we continue to be confident that the local and national benefits of our project substantially outweigh the perceived adverse effects.”

The proposal is for mining some 22 to 36 kilometres offshore in the southern Taranaki bight, in water depths of between 20 and 45 metres. The company would dredge around 50 million tonnes of sand from the seafloor annually to a depth of about five metres, from which it would extract around five million tonnes of iron ore for export to Asian steel mills.

A similar onshore operation has been operating at Taharoa, on the west coast south of Auckland, for three decades.

Unused sand would be returned to the seafloor, with worm-fields and other aquatic life on the seafloor recovering to its original state within a decade.

Opposition to the proposal focused on concerns about the impact of sediment plumes on marine life, potential impacts on migratory species such as blue whales and Maui’s dolphin, and the potential to have an impact on wave action.

The application is the first under a new regime regulating economic development in the EEZ. A proposal to mine phosphate nodules on the Chatham Rise, to the east of the South Island, was lodged by Chatham Rock Phosphate last week.

A decision on the TTR application is due within 20 working days. The company, backed by US, Australian and New Zealand investors, was established in 2007 and has spent some $50 million to understand the resource, engineering requirements for mining and environmental issues.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Must Sell 20 Petrol Stations: Z Cleared To Buy Caltex Assets

Z Energy is allowed to buy the Caltex and Challenge! petrol station chains but must sell 19 of its retail sites and one truck-stop, the Commerce Commission has ruled in a split decision that acknowledges possible retail price coordination between fuel retailers occurs in some regions. More>>

ALSO:

Huntly: Genesis Extends Life Of Coal-Fuelled Power Station To 2022

Genesis Energy will keep its two coal and gas-fired units at Huntly Power Station operating until 2022, having previously said they'd be closed by 2018, after wringing a high price from other electricity generators who wanted to keep them as back-up. More>>

ALSO:

Dammed If You Do: Ruataniwha Irrigation Scheme Hits Farmer Uptake Targets

Enough Hawke's Bay farmers have signed up for water from the proposed Ruataniwha Water Storage Scheme for it to go ahead as long as a cornerstone institutional capital investor can be found to back it, its regional council promoter announced. More>>

ALSO:

Reserve Bank: OCR Stays At 2.25%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.25 percent, in a decision traders had said could go either way, while predicting inflation will pick up as the slump in oil prices washes out of the data and capacity pressures start to build in the economy. More>>

ALSO:

Export Values Down: NZ Posts Biggest Annual Trade Deficit In 7 Years

New Zealand has recorded its biggest annual trade deficit since April 2009, reflecting weaker prices of agricultural commodities such as dairy products, beef and lamb, and increased imports of vehicles and machinery. More>>

ALSO:

Currency Events: NZ's New $5 Note Wins International Banknote Award

New Zealand’s new Brighter Money $5 note has been named Banknote of the Year in a prestigious international competition. The $5 note was awarded the IBNS Banknote of the Year title at the International Bank Note Society’s annual meeting. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news