Tender process kicks off start of potential resources boom in New Zealand

by Ray Clancy on June 15, 2012

Investing in minerals exploration and development

More jobs for expats could be created in New Zealand with the government set to approve a major increases and investment in minerals exploration and development.

The Ministry of Economic Development has opened the Northland 2012 competitive tender to manage competitive interest in exploring for metallic minerals.

‘The tender opens the door for us to realise the significant potential for New Zealand to grow the economic contribution made by minerals. This means new jobs and new wealth for Northland. It’s a really big opportunity for the region and for New Zealand,’ said Energy and Resources Minister Phil Heatley.

‘The 2011 Northland aeromagnetic data survey which I released last month considerably enhances the prospect of competitive interest in minerals exploration. The focus now is on better understanding the metallic minerals potential of the area. Under the exploration permits companies will determine what development may be commercially viable,’ he explained.

‘The government is determined that growth from minerals development happens, but in a manner that is responsible, careful and consistent with the wider values we hold as a nation,’ he added.

The government is currently reviewing the Crown Minerals Act regime, which governs management of the Crown minerals estate, including gold and other metal resources in New Zealand.

‘The government’s work programme is currently focused on ensuring the regulatory regime for minerals development is best international practice. I expect to see the new regime in place by the end of the year,’ said Heatley.

‘The aim is clear, New Zealand will have an updated robust piece of legislation in place that will ensure safe and responsible development of our resources,’ he added.

Bids received on the Northland tender need to be in by 07 December 2012 and will be evaluated by a government evaluation panel. Five year exploration permits will be awarded to successful bidders in early April 2013.

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