Seabed mining decision a lost opportunity

Seabed mining decision a lost opportunity

Posted on 30 September 2021

MEDIA RELEASE 

Straterra, New Zealand’s minerals sector industry organisation, is disappointed with the Supreme Court decision which prevents Trans-Tasman Resources mining off the coast of Taranaki for ironsands.

“This is a disappointing decision for Trans-Tasman Resources, the industry as a whole and New Zealand,” said Straterra CEO, Chris Baker.

Seabed mining can be managed safely and in a manner that meets acceptable environmental standards and, at the same time, offers huge economic potential to New Zealand.

“The vanadium-rich sand resources have a range of significant environmental, social, economic and technological benefits to New Zealand and the world.

“Vanadium is a metal which can contribute to a low emissions future because of its developing use as a battery metal.  Modern society needs such resources, as does the New Zealand economy.

“It is difficult to imagine that the environmental impact of the proposed mining could not have been managed in an acceptable manner. The footprint of the mining operation would be small, and the company would be required to work under strict conditions.

“The company had been granted a consent in 2017 by the Environmental Protection Agency and so today’s decision sends an unfortunate signal to potential investors,” Mr Baker concluded.

More information: Chris Baker, CEO, Straterra, 027 240 6754, chris@straterra.co.nz