Damien
O’Connor

Primary Industries Spokesperson

27 February 2013 MEDIA STATEMENT

Commerce Commission briefing on SWAPS loans tomorrow
The Primary Production Select Committee will tomorrow hear from the Commerce Commission on the controversial banking loans swaps issue.

The Commerce Commission is investigating and considering evidence from a number of farmers from throughout New Zealand but has yet to decide if it will undertake a formal investigation.

“This is a serious issue that needs careful consideration because it has major implications for primary sector financing,” Labour’s Primary Industries spokesperson Damien OConnor said.

“The briefing to the Primary Production committee takes place from 10.00am and is open to the public. This is the first step in a select committee process to find out exactly what effect these banking products have had on rural New Zealand.”

ENDS

© Scoop Media

Scoop Business: Bathurst Gets Nod For DoC Access To Denniston Mine

Conservation Minister Nick Smith has approved access over conservation estate land for Bathurst Resources to develop an open cast coal mine on the Denniston Plateau, above Westport, to the dismay of environmental opponents.

The timing for Smith’s move avoids Bathurst having to resubmit applications for access agreements under the revised Crown Minerals Act, which comes into force tomorrow and would have required public consultation.

The announcement lands in the middle of delicate negotiations between the company, environmental groups and other interested parties that could pave the way to a broader agreement on the Escarpment proposal, whose resource consents are still subject to court appeals. More>>