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

 


CRP response to TTR decision

CRP response to TTR decision

18 June 2014

Chatham Rock Phosphate (NZ: CRP) (“CRP” or “the Company”) today notes the announcement made by Trans-Tasman Resources (TTR) regarding the marine consent application decision of New Zealand’s Environmental Protection Authority (EPA) Decision-making Committee (DMC).

While CRP has yet to study the decision in detail, we remain very confident we have submitted a robust and comprehensive application which will meet the legal tests under the relevant New Zealand legislation. We have proposed comprehensive monitoring, mitigation and compensation conditions, following discussions with interested parties.

We feel for TTR as the company has worked hard and invested significant capital. However it is important to remember our application cannot be compared with TTR’s. It is for a different mineral, in a very different marine environment and using different extraction methods and will be considered by a different Decision-making Committee.

CRP’s application also has some unique environmental and economic benefits which include:

• It offers security of supply for New Zealand’s most significant industry

• It’s an organic New Zealand-origin product that can be applied without any chemical processing

• It’ll reduce the carbon footprint by lowering transport distances

• It has one of the lowest known concentrations of cadmium of any phosphate rock

• It reduces water pollution from run-off when used as a direct application fertiliser because it releases slowly, requiring less frequent applications than conventional fertilisers, further reducing its carbon footprint

• The rock is highly reactive, heightening its effectiveness as a fertiliser, and has strong liming qualities.

According to regulatory filings, the main basis of the decision regarding TTR’s marine consent application relates to concerns about potential adverse environmental effects.

CRP’s own Marine Consent to the Environmental Protection Authority, filed in May 2014, comprehensively accounts for the low level of potential environmental impacts proposed by its own mine plan throughout the development, operation and reclamation of its permit area.

The Company continues to prioritise environmental responsibility within its role as a corporate citizen and economic contributor to New Zealand.

Accordingly, CRP continues to engage with EPA, Iwi and all relevant local stakeholders as part of the six-month process towards the DMC’s decision on its application, which is still expected in Q4 2014.


ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Housing Policy: Auckland Densification As Popular As Ebola, English Says

Finance Minister Bill English said calls by the Reserve Bank Governor for more densification in Auckland’s housing were “about as popular in parts of Auckland as Ebola” would be. More>>

ALSO:

Crown Accounts: NZ Government Deficit Smaller Than Expected In First Half

The New Zealand government's operating deficit was smaller than expected in the first six months of the financial year, as the consumption and corporate tax take rose ahead of forecast in December, having lagged estimates in previous months. More>>

ALSO:

Fruit & Veg Crackdown: Auckland Fruit Fly Find Under Investigation

The Ministry for Primary Industries (MPI) is investigating a find of a single male Queensland fruit fly in a surveillance trap in the Auckland suburb of Grey Lynn... MPI has placed legal controls on the movement of fruit and some vegetables outside of a defined circular area which extends 1.5km from where the fly was trapped in Grey Lynn. More>>

ALSO:

Scoop Business: Westpac NZ Reaches $2.97M Swaps Settlement

Westpac Banking Corp’s New Zealand unit has agreed to pay $2.97 million in a settlement with the Commerce Commission over the way the bank sold interest rate swaps to farmers between 2005 and 2012. More>>

ALSO:

Going Dutch: Fonterra Kicks Off $144M Partnership With Dutch Cheese Maker

Fonterra Co-operative Group, the world’s largest dairy exporter, has commissioned a new dairy ingredients plant in Heerenveen, in the north of the Netherlands, its first wholly-owned and operated ingredients plant in Europe. More>>

ALSO:

Scoop Business: NZ Retail Sales Beat Estimates

New Zealand retail sales rose more than expected in the fourth quarter, led by vehicle-related transactions, food and beverages, adding to evidence that cheap credit and a growing jobs market are encouraging consumers to spend. More>>

ALSO:

Delivery Cuts Go Ahead: 'Government Money Grab' From NZ Post

"It's a money grab by the Government as the shareholder of New Zealand Post" says Postal Workers Union advocate Graeme Clarke about the changes announced by NZ Post. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

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