Parliament

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

 

Blackwater gold mine gets PGF boost


Hon Damien O’Connor

Minister for Rural Communities

Hon Fletcher Tabuteau

Parliamentary Undersecretary for Regional Economic Development

13 December 2019

MEDIA STATEMENT

The Provincial Growth Fund (PGF) has approved a $15 million loan to help re-establish a gold mining operation at Blackwater Gold Mine, near Reefton, Rural Communities Minister and local MP Damien O’Connor announced at an event on the West Coast today.

“This is great news for the Coast that could attract hundreds of millions of dollars in investment in to the region. The coast has a long colourful gold mining history and Blackwater gold reef was one of the most productive and richest in its time.

“The PGF has invested $15 million as a commercial loan so that Tasman Mining Limited can build 3.3km long twin decline tunnels at the former Blackwater Gold Mine site and complete a three year drilling programme to see if gold mining will be viable there again.

“Private funding is difficult to raise for gold mining and PGF funding will accelerate the project for the community, as well as lift the confidence of private investors to back the project,” Mr O’Connor said.

Parliamentary Undersecretary for Regional Economic Development, Fletcher Tabuteau, said the project builds on a pre-existing mine operation with known gold resources and the skills and experiences of local people and businesses.

“Small scale drilling in recent years shows evidence that gold is present. A twenty-year permit to mine gold, as well as silver from the site, is in place and the mining entrance is situated on private land, which will be rehabilitated for forestation and grazing once mining ceases.

The PGF is all about regional economic growth and job creation. About forty jobs will be created while the drilling project is operating over the next three years, and it is predicted there will be around 100 jobs at the mine when it is at full production, from about 2024, Mr Tabuteau said.


Funding from the Provincial Growth Fund is approved in principle and announced, after which contracts are negotiated. Some funding may depend on completion of business cases. Payments are made once agreed milestones are met. These are set as part of contract negotiations, and differ from project to project.

ends

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Changes Hitting The Economy, Work, And The Benefit System

The economy may be falling like a rock but it hasn’t hit the bottom of the well yet, here or anywhere else. Time is so stretched – early March feels like a distant country – that planning rationally for what the economy might look like in two, three, six months or a year feels more like an exercise in science fantasy. Treasury projections have never been particularly reliable (too rosy by far, usually) but they’re what we’ve got right now. In the foreseeable… will unemployment really be in double figures and/or up to one third of the entire work force? Yes, quite possibly... More>>

 
 

Government: Seeking Infrastructure Projects


The Government has tasked a group of industry leaders to seek out infrastructure projects that are ready to start as soon as the construction industry returns to normal to reduce the economic impact of the COVID-19 pandemic, Economic Development Minister Phil Twyford and Infrastructure Minister Shane Jones say...More>>

ALSO:


Police Commissioner: Christchurch Terrorist Pleads Guilty

Police acknowledge the guilty pleas in the Christchurch Mosque attacks prosecution that were entered in the Christchurch High Court today. The guilty pleas to 51 charges of murder, 40 charges of attempted murder and one charge of engaging in a terrorist ... More>>

ALSO:

Transport: $54 billion Investment In Draft GPS 2021

The Draft Government Policy Statement (GPS) 2021 on land transport confirms that the Government will invest a record $54 billion in its balanced transport policy over the next decade. More>>

ALSO:

Gordon Campbell: On The Loss Of Abortion Safe Zones

No doubt, last night’s defeat of abortion law reform provisions that would have created safe zones around abortion clinics will be portrayed, by some, as a victory for free speech. It isn’t. It was a victory for bigotry and intimidation directed ... More>>

ALSO:

Gordon Campbell: On National's Regulation Crusade

Lets step back in time now, to simpler days and to simple-minded solutions. So…. if National gets elected, landlords will once again be able to evict tenants at will, raise rents anytime they like, and ignore the need to install a healthy standard of heating in the homes they put out to rent. This promised ‘bonfire of regulations’ is being done in the name of cutting red tape... More>>

ALSO:

SMC - Expert Reaction: PF2050 Strategy

DOC has released a strategy to reach Predator Free 2050, along with an action plan through to 2025. The predator-free goal focuses on three groups of mammals: possums, three species of rats, plus stoats, ferrets and weasels... More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 


 

InfoPages News Channels