Public support for exploration a good sign for investors

Thursday 5 July 2012

Media release for immediate use

Public support for exploration a good sign for investors – Straterra

New Zealanders’ strong show of support for minerals exploration sends a much-needed, positive signal to investors in resources, Straterra says.

Straterra CEO, Chris Baker, said today that a New Zealand Herald poll released today, reporting that 67 per cent of New Zealanders support minerals exploration, shows most Kiwis believe exploration and mining can make an important economic contribution to our country and is environmentally and socially responsible.

“Many respondents indicated cautious support, which is appropriate as we always advocate a case by case approach. However, the survey shows that misinformation on minerals and mining promulgated by a vocal and persistent minority is rejected by most New Zealanders, who have confidence in our regulations and who see every reason for mineral exploration.

“This is a positive sign for investors in resources as it indicates widespread public support for exploration and mining. It also shows the public are willing to take a rational and considered approach toward mining proposals.

“The benefits in gaining more knowledge of New Zealand’s mineral resource potential are obvious – it’s about exploring the possibility of new economic opportunities for New Zealand, at a time of need.

“If say, a new gold mine were found, consented and developed, it would create hundreds of new jobs, new spending of more than $100 million a year once the operation was established on top of the $100s of millions spent on exploration, feasibility studies, consenting and capital. A reasonable estimate is that greater than 80 per cent of the annual expenditure would stay in New Zealand as salaries, taxes, rates, levies, royalties, payments to suppliers, contractors, and regulatory costs.

“Mining can make a significantly greater contribution to our economy. The industry, and the public, wants responsible development, they want to be confident our management of environmental impact is to a high standard. This survey reflects and confirms that confidence.

ENDS

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