By Chris Hutching
Friday 6th October 2000
|Text too small?|
Company secretary Angus Kennedy-Perkins was in New Zealand this week and said the project offered great promise and looked encouraging given the low currency in relation to the US dollar.
The application involves a former Macraes Mining development known as the Globe Prospect for which resource consent was obtained in 1994. The idea was shelved at the time because of unfavourable conditions.
This time the company will be using improved pressure oxidation processing with equipment installed at the company's Macraes Flat operations in Otago. Concentrated ore would be either railed, trucked or shipped from the West Coast to Macraes Flat for final processing.
Mr Kennedy-Perkins said there was potential to create 80 full-time jobs and 120 full-time equivalents in downstream activities over the 10-15 year lifespan of the mine. At the peak of construction there might be 400 people employed.
The board of GRD has yet to give the go ahead. A decision would be made in July if the resource consent hearings were successful.
The new resource consent application says the mine would add income in the Buller district of $13.7 million a year, with a short-term peak of $21.1 million in 2006. Reefton has about 1000 residents supported by farming, a sawmill and two small coal mines.
No comments yet
MARKET CLOSE: NZ shares edge up, led by Air NZ and Heartland Bank
NZ dollar slide may be near end with local data likely to show robust labour market
Ports of Auckland buys out Nexus Logistics partner
Forager sees strong share gain for NZME if merger approved, less downside if it isn't
FMA calls Serious Fraud Office into Forestlands probe
UPDATE: Intueri shares fall 52% to 1 cent after company says nothing for shareholders after bank repaid
RBNZ kicks off consultation on capital adequacy review
Cooperative Bank promotes GM customer banking David Cunningham as new boss
NZX first-quarter revenue dips 1.7% as agri sales slide
NZ angel funding hits record $69 million in 2016