Source: New Zealand Government
A new report on New Zealand’s mineral endowment identifies prospects for development, enabling a strategic and considered approach to growing the country’s resources sector, Resources Minister Shane Jones says.
The report, done by GNS Science as part of the draft Minerals Strategy for New Zealand, brings together extensive research, geological, geochemical and geophysical studies, as well as mapping of geography and mineral deposits.
“We have long known New Zealand has a rich and vast minerals estate but have lacked a holistic and comprehensive picture of what they are and where they might be found,” Mr Jones says.
“This report collates our current understanding of New Zealand’s mineral opportunity and potential and will be used to inform policy advice and help with decision-making. It will also be a key tool in attracting explorers and investors.”
While most of our current mineral production is in gold, iron sands and coal, the report finds key opportunities in the short and medium-term also lie in other types of prospects.
“Hard-rock gold and offshore titanomagnetite iron sand rank highly on the list of short-term opportunities but heavy mineral sands with ilmenite and co-products and byproducts of rare earth elements, and silica gravels are also commodities close to development in New Zealand,” Mr Jones says.
“Longer term, our exploration potential expands to placer gold, non-metallic minerals such as high-grade limestone and perlite, antimony as a byproduct of gold mining, copper, platinum group metals, tungsten and offshore seafloor ferromanganese nodules.
“Progressing these opportunities will require investment in exploration and research and development, and my focus is on getting the policy and regulatory settings right to enable that.”
The report also looks at opportunities for New Zealand to increase self-sufficiency in raw minerals valuable to the economy. It found phosphate, glauconite and sulphur, which are all used in fertilisers, could be developed locally in the future.
“This Coalition Government has signalled a major role for minerals in New Zealand’s export-led economic recovery, utilising and leveraging mineral resources to benefit all New Zealanders,” Mr Jones says.
“I’m committed to a strategic, long-term approach to mining and this work, together with the upcoming Critical Minerals List, will provide the foundations for identifying the domestic and imported minerals pivotal to our economy but at risk of supply disruptions, and the potential opportunities to meet these needs domestically.
“These are the building blocks of a strategic future for the development of our natural resources.”
The report has been published on the New Zealand Petroleum and Minerals website.
