New Zealand government outlines plans to double mineral exports by 2035
THE New Zealand government said on Friday that it wants to more than double the country’s mineral exports to NZ$3 billion (S$2.3 billion) by 2035.
Resource Minister Shane Jones said in a speech that the government had increased the target to NZ$3 billion from a previous target of NZ$2 billion after feedback from the sector said it was not ambitious enough.
New Zealand mineral exports were NZ$1.46 billion in the 12 months ending June 30, according to Statistics New Zealand.
“This Government sees increasing the scale and pace of mineral resources development as a key pillar of a strong economy, as well as international trade, co-operation and investment,” Jones said in the North Island mining town of Waihi.
The government also released an updated list of minerals seen as essential to the country’s economy and in demand by international partners, to include gold and metallurgical coal.
“We are a prospective destination for sought-after minerals like antimony and we have operators working rare earth, vanadium and titanium projects, which I note are all ways for New Zealand to support a transition to a clean energy future,” Jones said.
The government is also reforming legislation to make it easier to mine minerals and its strategy released on Friday outlines plans including support for foreign investment in the sector and exploring domestic processing and refining.
Jones’ speech was met with protests as many New Zealanders have long opposed the environmental implications of mining in a country that markets itself as clean and green.
However, the push is part of the conservative government’s efforts to boost the economy, which sank into a technical recession in the third quarter of 2024. REUTERS
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