INDEPENDENT NEWS

OIO decision confidence building

Published: Tue 8 Oct 2019 03:05 PM
BusinessNZ welcomes a decision by Minister of Finance Grant Robertson and Associate Minister of Finance David Parker to approve new applications by mining company OceanaGold to purchase land in Waihi.
Earlier, the multinational gold producer had an application under the Overseas Investment Act (OIA) to buy 178ha of rural land for a new tailings reservoir declined.
"We welcome Ministers decisions on this application as it signals the type of certainty and stability that long-term international investors need in order to continue to provide valuable investments in and for New Zealand," Mr Hope says.
Mr Hope notes the Ministers decisions included consideration of the benefits of the application, including the retention of about 340 full-time jobs and exports valued at $2 billion over nine years.
Mr Hope says when faced with inconsistent decisions investors often will seek better and more consistent outcomes elsewhere.
"This decision sends a positive signal to the resources sector and wider economy that New Zealand is open for business."
ENDS

Next in Business, Science, and Tech

Contact delivers for customers, employees and shareholders
By: Contact Energy
OceanaGold Announces Receipt Of WKP Mining Permit
By: OceanaGold
COVID-19 lockdown has widespread effects on labour market
By: Statistics New Zealand
New Research By NZ Post Shows Online Shopping Grew 105% In Alert Level 3
By: New Zealand Post
Westpac NZ Lowers Merchant Fees For Small Businesses
By: Westpac New Zealand
Million Dollar Plus Property Sales Increase 11.7% Nationally, Says REINZ
By: REINZ
Ice-olation For Antarctica New Zealand
By: Antarctica New Zealand
July House Price Index illustrates market resilience
By: QV Valuations
Queenstown Rents Experience Biggest Drop In Seven Years
By: Trade Me Property
The Quiet Earth
By: Auckland University
James Shaw says Kiwibank, not ministers should decide on investors
By: RNZ
Kiwis Confident Financial Markets Will Recover From COVID-19, Plan To Increase Investments
By: Financial Markets Authority
Warehouse Using Covid For Cover As Extensive Restructure Makes Everyone Worse Off
By: FIRST Union
Stronger Green Voice Needed Next Term To Stop More Mining On Or Under Conservation Land
By: Green Party
Unemployment Figures Don’t Tell The Full Story
By: New Zealand National Party
View as: DESKTOP | MOBILE © Scoop Media