Source: New Zealand Minerals Council
Today’s passing of the Crown Minerals Amendment Act is the cherry on top of a great week for mining, says New Zealand Minerals Council chief executive Josie Vidal.
“To make the most of international interest in mining in New Zealand, untap the potential of critical minerals, and make a greater contribution to jobs, exports and the economy, we need enabling legislation such as the Crown Minerals Amendment Act,” Vidal says.
“One of the significant aspects of this law for us, is that the emphasis on promoting mining goes back into the purpose statement of the Act. This is important because it shows the world that the New Zealand Government understands the value of our mining industry and that gives export markets and investors confidence.
“The positivity around mining has been reflected in the respected international analysis of policy and investment attractiveness in 82 mining jurisdictions globally by the Fraser Institute in its Annual Survey of Mining Companies, 2024, released this week.
“After languishing near the bottom of rankings for too many years, due to uncertainty about the environment for mining, New Zealand has made a massive leap and is now ranked higher than any Australian jurisdiction on the Investment Attractiveness Index – at 12th of 82, compared with 43rd of 86 in 2023 – and 15th of 82 on the Policy Perception Index, compared with 50th of 86 in 2023.
“This week we also hosted an event to discuss science in the sector, and it was heartening to see the buzz around the critical minerals the world needs and what is available in New Zealand, and how we can add value and be part of the global supply chain.
“Professor Chris Bumby, Chief Scientist (Materials) at the Robinson Research Institute within Victoria University of Wellington spoke about the potential for value-add processing of New Zealand’s critical mineral resources. He pointed out why metals production matters – ‘today’s world is built from metals and tomorrow’s world will require a whole bunch more’, he said.
“He highlighted New Zealand opportunities included critical minerals vanadium, titanium, zirconium, tungsten, and antinomy, among others, and the value New Zealand minerals bring to the world’s steel production.
“New Zealand science and research stands out globally and Science, Innovation and Technology Minister Shane Reti also spoke about the work the Government is doing to further enable science and technology to advance our country in a rapidly changing high-tech world.
“There is so much exciting work happening in our minerals industry and it is important to have enabling laws that back our claims that New Zealand is open for business, and that the Fast-track Approvals Act is allowed to work as it is intended and is not derailed by vexatious detractors,” Vidal says.
