Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Platinum permits awarded in South Island

Hon Simon Bridges
Minister of Energy and Resources

24 July 2014

Platinum permits awarded in South Island

Five exploration permits have been awarded in the South Island to a new international minerals exploration company as a result of the New Zealand Platinum Tender 2013.

Canadian-backed company Lynx Platinum Limited has been awarded three exploration permits covering 355km² near Murchison and two exploration permits covering 168km² north of Invercargill.

“These permits present an exciting opportunity for the Tasman and Southland regions, and constitute the most significant new minerals exploration activity in New Zealand by one company in several years,” says Energy and Resources Minister Simon Bridges.

“It is encouraging to see a new minerals operator enter the New Zealand market, especially when the international price of metallic mineral commodities is low and investors are understandably selective about where in the world they put their money.

“It is a credit to the sector and to this Government’s approach – we treat the mining industry as a valuable part of the economy and will continue to work to raise the profile of the sector.

“The minerals sector already contributes over $1 billion to the economy in GDP.

“Lynx will spend around $3 million over the first three years, and this could rise to $7.5 million within five years if the initial work is successful.

“If an economic discovery is made, there could be significant benefits on both a regional and national level. We can’t afford to ignore the opportunity to make the most of untapped resources potential in a safe and environmentally responsible way,” Mr Bridges says.

The tender process included a rigorous assessment of the company’s financial and technical capability, including a high-level assessment of their ability to meet New Zealand’s world-class health and safety, and environmental requirements.

For more information and maps of the awarded permits go to:
http://www.nzpam.govt.nz/cms/minerals/competitive-tender/2013/platinum-2013

Lynx Platinum Limited is a wholly owned subsidiary of Coronado Resources Limited, a Canadian exploration and development, power generation and retailing company. TAG Oil Limited, an established Canadian petroleum operator which has wells in Taranaki and on the North Island’s East Coast, has a 49 per cent shareholding in Coronado.

Platinum is considered around the world as a strategic metal because of its application in automotive, agriculture, electronic, dental, medical, and aerospace industries. Platinum is also used in environmentally-related technologies such as fuel cells and solar technologies.

The Platinum New Zealand 2013 Minerals Tender process began in March last year with consultation with iwi, the Department of Conservation (DoC) and local authorities, and the competitive tender closed in April.

An exploration permit gives the permit holder the exclusive right to explore the metallic minerals over the area specified in the permit only, for a period of five years. It does not give them automatic access to the land – this must be negotiated with the landholder.

In the case of conservation land, operators must meet criteria set out by DoC in regards to access arrangements and mitigating environmental impact. The operator must also satisfy any local council requirements under the Resource Management Act.

If they can’t meet any of these hurdles, they will not be able to begin their work programme.

If an economic discovery is made at the exploration stage, the company must apply for a mining permit before production can commence.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

PARLIAMENT TODAY:

  • Govt Probed Over Health & Safety
  • Questions and Answers 28-05-15
  • Week in Parliament 22-05-15
  • Saturday Sitting
  • House Rises At Midnight
  • Telco Levy Bill Passes
  • Telco Levy Bill Completes First Reading
  • Social Housing Bill Passes Under Urgency

  • Labour Party: McCully Doesn’t Deny Bribe In Saudi Sheep Scandal

    “In Parliament today I asked Murray McCully directly: Why is he the first Minister in history to back a multi-million dollar facilitation arrangement which in other jurisdictions is called a bribe? says Labour’s Export Growth and Trade spokesperson ... More>>

    ALSO:

    Welfare: Closure Of Relationships Aotearoa

    The Aotearoa New Zealand Association of Social Workers (ANZASW) Chief Executive Lucy Sandford-Reed is concerned about the closure of a national service which provides a wide range of services to rural and urban communities throughout New Zealand. More>>

    ALSO:

    TPPA: University Of Auckland Warns Of Negative TPP Impact

    The University of Auckland May 20, 2015 University of Auckland Warns of Negative TPP Impact With the Trans Pacific Partnership (TPP) negotiation drawing to a close, the University of Auckland has expressed serious concerns about its potential implications. ... More>>

    NZ Flag: Flag Referendum Gets Hit Hard In New Poll

    The latest Campbell Live text poll confirms it is time for the Prime Minister to listen to the public and shelve his flag referendum, says the New Zealand First Leader Rt Hon Winston Peters. More>>

    Gordon Campbell: The Government’s Belated Moves On Property Speculation

    Is it a property tax on capital gains or a capital gains tax on property? The Jesuitical distinctions in the government’s spin about its latest moves on property speculators are all about whether the government can claim that it jumped, or confess that it ... More>>

    Grant Robertson:
    Key Can’t Just Be Prime Minister For Parnell

    John Key must show New Zealanders in next week’s Budget that he is more than the Prime Minister for Parnell, and is also the Prime Minister for Pine Hill, Putararu and Palmerston North, Labour’s Finance spokesperson Grant Robertson says. In a ... More>>


    Labour Party: More Regional Jobs Go In Corrections Reshape

    News that 194 Corrections staff are to lose their jobs will have ramifications not only for them and their families but for the wider community, Labour’s Corrections spokesperson Kelvin Davis says. Prison units at Waikeria, Tongariro and Rimutaka ... More>>

    ALSO:

  • NZ First - Prison Job Losses to Send Money Offshore
  • TPPA: ‘Team Obama’ Regroups On Fast Track, Still Not Deliverable

    ‘After yesterday’s stinging and unexpected defeat for the Obama administration’s attempt to advance Fast Track legislation in the US Senate, Senate leaders have worked up a compromise they think will get them past this blockage’, according to Auckland ... More>>

    NZ Government: 5,500 More Doctors And Nurses In Our Hospitals

    Health Minister Jonathan Coleman says a record number of doctors and nurses are working in District Health Boards across the country. More>>

    Controller and Auditor General: Katherine Rich Conflict of Interest Decision

    We are writing to you about a matter that has been raised with us by members of the public. More>>

    ALSO:

    Budget 2015: Andrew Little On The 2015 Budget

    Speaking to the Chamber of Commerce, the Labour opposition leader attacked the government’s approach to economic issues facing New Zealand. He said they have been “more than reckless in their complacency” and “the next week’s budget will do nothing ... More>>

    Defence Force: NZDF Building Partner Capacity Mission Personnel In Iraq

    NZDF Building Partner Capacity Mission Personnel in Iraq The New Zealand Defence Force Building Partner Capacity training mission contingent is in place at Taji Military Complex in Iraq. The Chief of Defence Force Lieutenant General Tim Keating says the ... More>>

    PM Press Conference: ACC Levy Cuts Announced

    In a press conference this afternoon in Wellington, ACC Minister Nikki Kaye proposed $500 million worth of ACC levy cuts. More>>

    Quakes: New Process For Red Zone Crown Offers

    Canterbury Earthquake Recovery Minister Gerry Brownlee has announced a process to give everyone a say on the Crown offers to owners of vacant, commercial/industrial and uninsured properties in the Residential Red Zone. More>>

    ALSO:

    Get More From Scoop

     

    LATEST HEADLINES

     
     
     
     
     
     
     
     
     
    Parliament
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news