INDEPENDENT NEWS

Straterra welcomes Overseas Investment Act decision

Published: Tue 8 Oct 2019 03:08 PM
8 OCTOBER 2019
Straterra, New Zealand’s minerals sector industry organisation, has welcomed the Overseas Investment Act decision to approve OceanaGold’s application to purchase land adjacent to its Waihi mine.
Earlier this year, an application from OceanaGold to purchase the same land was declined.
“This decision is positive for the industry and for the New Zealand economy as a whole,” said Straterra CEO Chris Baker.
“The decision secures well paid jobs and export revenue for the nine-year period defined in the application, and almost certainly for many years beyond.
“We note that gold was first discovered in Waihi in the 1800s. Waihi is a world class gold province and the current supply / demand equation for gold strongly favours ongoing investment.
“Importantly this decision will also go some way to restore confidence in the New Zealand overseas investment regime, and we give due credit to this government for addressing the earlier decision. We are pleased that common sense has prevailed”, Mr Baker concluded
ends

Next in Business, Science, and Tech

Government accounts show strong economy
By: New Zealand Government
OceanaGold cleared to buy land for Waihi tailings expansion
By: BusinessDesk
Fletcher sued for $7.5m over Christchurch justice precinct
By: BusinessDesk
PHARMAC signs bundle deal for more cancer medicines
By: PHARMAC
Government levels electricity playing field for consumers
By: New Zealand Government
NZ dollar rises on better-than-expected govt surplus
By: BusinessDesk
Rail revaluation bolsters Crown 2019 accounts
By: BusinessDesk
Shane Jones' PGF quietly made tax-exempt
By: BusinessDesk
Robertson’s pockets bulge as everyday Kiwis struggle
By: New Zealand National Party
DHB deficits out of control, health services at risk
By: New Zealand National Party
Green Party responds to Government surplus announcement
By: Green Party
Nearly $2 of every $5 swallowed by the Government
By: ACT New Zealand
NZEI Te Riu Roa welcomes Government's education spending sig
By: NZEI
Give the money back, Grant
By: New Zealand Taxpayers' Union
Surplus should be spent on housing, health and services
By: Public Service Association
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media