26 | Bathurst Resources T T to page 28 T T Richard Loader Bathurst optimistic on prospects Located i just south of the Stockton coking coal mine, the Buller project involves an open-cast coking coal mine on the Denniston Plateau. The New Zealand Government’s FastTrack Approvals Bill currently before the Environment Select Committee will give significant impetus to mining and major infrastructure projects, currently waiting in the wings for traction, as well as add badly needed investor confidence, says Bathurst Resources CEO Richard Tacon. If passed into legislation, the Bill will give effect to a new, streamlined approvals process for major infrastructure and other projects with significant regional or national benefits. On the board for Straterra, the industry association representing the New Zealand minerals and mining sector, Richard says whether it is aggregate, coal, gold, or anything else that is mined, there is increased interest from investors with the ‘open for business’ announcements made by the Government. “Firstly, the Government wants to maintain wages in the regions that are derived from mining activities, but also there are a lot of other projects that are sitting there and could be brought on. “Bathurst Resource’s South Island operations have a life of five years, but if we can bring in the Buller Escarpment project and some of the other areas in Stockton, then that extends to 20 years. So, that’s the goal in front of us at the moment. In the North Island we have projects that will add 10 years of further production for New Zealand Steel if they want that, and/or for electricity supply if they want it. So there are projects that the Fast-Track Bill in particular will give impetus to, because of the complexity of being consented through the standard process.” Bathurst Resources knows first-hand the complex issues that can arise through a protracted consenting environment. The company entered the New Zealand market in 2010, principally to develop the Buller coking coal project. Located in the Westport area, just south of the Stockton coking coal mine, the project involves an open-cast coking coal mine on the Denniston Plateau. However, consenting issues took three years and $15m to resolve, by which time coal had plummeted from US$300/tonne to US$75 a tonne, and the share market had lost interest in coal. “The streamlined, one-stop-shop Fast-Track approval process is a real attraction for us and for our investors, delivering a lot more certainty,” says Richard. “We’re very pleased with where things are heading at the moment.” REGIONAL DEVELOPMENT Proudly Supporting Bathurst Resources Natural Resources Natural Resources We’re proud to support Bathurst Resources THE OTR TYRE SPECIALISTS Experts in OTR tire maintenance, management and repair, offering consulting and training services for open pit mining, underground mining, quarrying, and heavy industrial sectors. We operate in New Zealand, Papa New Guinea, Solomon Islands, Philippines and Madagascar. george@globaltyres.co.nz www.globaltyres.co.nz
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