EEZ Act needs fixing after decline of Chatham Rock Phosphate seabed mining application
The decline of Chatham Rock Phosphate’s marine consent application to mine rock phosphate from the ocean floor sends a strong negative signal to investors seeking to do business in New Zealand, Straterra says.
“Our initial reading of the decision supports our review of last year’s negative decision on the Trans-Tasman Resources ironsands mining application,” Straterra CEO Chris Baker said today. “The legislation has major flaws which must be amended if we are to see responsible mining projects being developed.”
“The intent of the Exclusive Economic Zone and Continental Shelf (Environmental Effects) Act is to provide for responsible economic development in the EEZ. However, the Act’s requirements for information and consideration of uncertainty mean that any mining proposal would likely be declined.
What mining investor is going to be brave enough to test that in the future?”
“As Business NZ stated earlier today, ‘New Zealand’s resource development framework has serious problems and needs urgent reform’.”