SFO to dig into mining company applications

Friday 3rd June 2011

The Serious Fraud Office (SFO) has commenced an investigation into Australian exploration and mining company Greywolf Resources following an allegation that fraud may have been involved in its application for exploration permits.

SFO director Adam Feeley confirmed the Ministry of Economic Development (MED) had passed information on to the SFO relating to applications made by Greywolf for petroleum and mineral exploration permits.

"From the information received to date, it appears that false statements may have been made on support of these applications," he said.

Feeley said that the focus of the SFO investigation would be to determine the authenticity of certain statements made in the applications and, if there was false information, to also determine who was responsible for making those statements.

"Maintaining the integrity of the regulatory regime, coupled with the considerable financial value of the permits, means that there is significant public interest in investigating this matter further."

Feeley said the applications related to three petroleum exploration and seven mineral exploration permits for various parts of New Zealand.

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