IPENZ report adds rigour to debate on resources

IPENZ report adds rigour to debate on resources

Posted on 12 December 2011

The Institute of Professional Engineers has produced a report that promotes mature and well-informed debate on minerals and energy in New Zealand, Straterra says.

The IPENZ report, “Realising our hidden treasure: responsible mineral and petroleum extraction”, released today, concludes that with improved and streamlined regulation, the contribution of the sector to New Zealand’s GDP could increase from 1.1 percent to triple that figure over the next 10 years.

View the report here.

Chris Baker, CEO, Straterra said today the report highlights the economic potential of the resource sector, the very high standard of environmental regulation in New Zealand, noting room for improvement on that, and in the regulatory environment generally. It also draws attention to a skills shortage in New Zealand in the sector.

“The report says what we have known  all along, which is that New Zealand has significant resource potential, but that more effort is needed by our country to attract the investment to explore and develop that potential.”

“The Government is doing a lot of work across the spectrum of issues including environment, economic return to New Zealand, and health and safety. In this, Straterra is engaging actively with government.”

“Properly managed and encouraged, the resource sector can contribute to the economy in a socially and environmentally responsible way. I commend this report to anyone with a serious interest in New Zealand’s economic and social future.”