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

 

Queen’s head secures NZ Mint future


Queen’s head secures NZ Mint future

The New Zealand Mint has today re-signed a ten year deal with the government of Niue for the management of the Queen’s effigy on Niuean collectable coins.

The deal is worth a minimum of $6m over ten years to Niue and secures the NZ Mint’s future in the global numismatic market estimated to be worth more than $1b.

“A coin is not a coin without an official government effigy so to cement the relationship we have with Niue for another ten years is not only great for business but also pleasing from a partnership point of view,” says NZ Mint chief executive Simon Harding.

The design and production of collectable coins equates to 20 per cent of the NZ Mint’s total revenue. Ninety-seven per cent of production is exported, mainly to Europe.

The deal also provides a valuable cash injection to the economy of Niue. The small Island nation is self-governed in free association with New Zealand and is home to just 1,500 inhabitants. It relies heavily on international aid and is working very hard to reduce this dependence and be more self-sustaining long term. More than 20,000 Niuens are thought to live in New Zealand.

“Niue faces many challenges but today’s agreement is a continuation of a partnership which will generate a vital revenue source and shows we are ready and willing to do business and be more self-reliant. It’s a good day for Niue and a good day for the NZ Mint,” says Niue Premier Toke Talagi.

In a nod to the on-going partnership between the two parties, the NZ Mint also announced it will fund an annual scholarship for two Niuean secondary school pupils to attend the Outward Bound leadership course in Marlborough.

Ends


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 



Electricity Authority: Review Of Competition In The Wholesale Electricity Market Raises Questions

In March 2021 the Electricity Authority announced it would conduct a review into competition in the wholesale electricity market. The period of the review covers the sustained elevated electricity prices since an unplanned outage at the Pohokura gas facility in Spring 2018... More>>


Government: RSI ‘State Of The Nation’ Report Published
latest research, science and innovation system report card is now available, and outlines how the system is performing, Research, Science and Innovation Minister Megan Woods has announced. “The report seeks to increase transparency, act as a reliable data source and stimulate discussion... More>>




Fonterra: Increases 2021/22 Forecast Farmgate Milk Price

Fonterra Co-operative Group Limited today increased and narrowed its forecast Farmgate Milk Price range to NZD $7.90 - $8.90 per kgMS, from NZD $7.25 - $8.75 per kgMS. The midpoint of the range, which farmers are paid off, has increased to NZD $8.40 per kgMS, from NZD $8.00 per kgMS... More>>




Pamu & Westpac: Market-leading Sustainability-Linked Loan

Westpac NZ and Pāmu have signed New Zealand’s most comprehensive Sustainability-Linked Loan to date, also the largest in the agricultural sector, and the first involving a state-owned enterprise. Pāmu, also known as Landcorp, is New Zealand’s biggest farming business. It will borrow $85m from Westpac NZ over three years... More>>


Retail NZ: Some Good News In COVID Announcements, But Firm Dates Needed

Retail NZ is welcoming news that the Government is increasing financial support for businesses in light of the ongoing COVID-19 lockdown, and that retail will be able to open at all stages of the new “Covid Protection Framework... More>>

ComCom: Companies In Hot Water For Selling Unsafe Hot Water Bottles And Toys

A wholesaler and a retailer have been fined a total of $140,000 under the Fair Trading Act for selling hot water bottles and toys that did not comply with mandatory safety requirements. Paramount Merchandise Company Limited (Paramount) was fined $104,000 after pleading guilty in the Manukau District Court... More>>