About Us  |   Advertise  |   Contact Us  |   Terms & Conditions  |   RSS Feeds
 
Support our sponsors:
sharemarket

Coasters get gold and jobs proposal

By Chris Hutching

Friday 6th October 2000

Text too small?
Perth-based Gold and Resource Developments (GRD) is seeking resource consent to operate a huge gold mine at Reefton that locals believe could breathe life into the West Coast with the possibility of jobs and increased spending.

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.



Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.
Bookmark and Share   Printable version
Related News

TRS extends Mega takeover timetable, confirms US$7mln raised
Oji Holdings cleared to acquire CHH Pulp & Paper
QBE Insurance (QBE)
Christchurch City seeks to mop up remaining shares in Lyttelton Port
Pengxin widens NZ farm portfolio, buying 13,800 hectare Lochinver Station
Trade Me property's industry-owned rival says it won't be affected by 'desperate fee cutting'
Xero says on target with accelerated cash burn as it takes on workers
Christchurch considers selling strategic assets stake to fund rebuild
RESEND: NAB's boss Thorburn takes BNZ's Renee Roberts back to Australia
Kathmandu says July cold snap boosted sales, earnings; shares jump

 
Previous News
Bond
News Alerts
Breaking News 
After the Bell (daily) 
Gold News 

Unsubscribe/Update »

RSS feeds »
Twitter »
Facebook »

Most Commented On
  forex centre
cfd centre
options centre
NZX 15 Index
   





© Copyright 2014 MoneyOnline Ltd & Investment Research Group Ltd. All Rights Reserved.