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"No" decision is solid gold

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10.05.2019

Land Information Minister Eugenie Sage said no this week and quite frankly, good on her, it's about time.

The minister said no to mining company OceanaGold's application made under the Overseas Investment Act to purchase 178 hectares of land south-east of Waihi to create a new tailings reservoir.

The company pitched it as safeguarding mining's future in the area, but the minister said it was at odds with the Government's goal to create sustainable, thriving regions and the country's transition to a carbon neutral economy.

It's the first time since 2005, when the Overseas Investment Act took effect, that ministers were split on an application, meaning the application had to be declined.

READ MORE:
* Oceana Gold's application to purchase land in the Coromandel declined
* Mayor says jobs will suffer after mining company's land buy canned
* OceanaGold to start exploratory drilling on Coromandel forestry land

Associate Finance Minister David Clark was all for it, but what's more extraordinary is, it's the first time in 30-years the company, which also operates Macraes Mine near Dunedin, has had an application through the Overseas Investment Office declined. They've lodged 80 of them in total.

Of course, OceanaGold is still deciding whether it'll take a judicial review so it's not game over, but it also came in the same week we received that catchily named international report saying our planet is in the worst shape it's ever been........

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