TTR - Trans Tasman Resources

[MAC]

Trans Tasman Resources has applied for a marine consent under the new EEZ legislation to mine iron sands just off the coast of Taranaki. TTR is privately held at present, however, you may wish to generally support investment and growth in New Zealand as I do.

http://www.stuff.co.nz/business/indu...mining-project

It commonly seems to me that numerous lobby groups make submissions with a very narrow focus, often obsessing over detrimental environmental effects alone, often ignoring the benefits to regional economies, and often ignoring the positive environmental effects which may arise from the displacement of more detrimental technologies which exist within the market.

If you wish as I do to balance the view of highly funded professional environmental lobby groups you may like to make a submission. It takes around ten minutes to do and you can find the form here;

http://www.epa.govt.nz/EEZ/trans_tas...s/default.aspx

The TTR website is here;

http://www.ttrl.co.nz/

The EEZ website and environmental information can be found here;

http://www.epa.govt.nz/EEZ/trans_tas...s/default.aspx

[MAC]

And, here we go, a $500M capital raising with possibly a dual listed ASX/NZX IPO mid 2014. http://www.nbr.co.nz/article/ironsan...2014-bd-149305

[macduffy]

Yikes! That was going to be a great boost to the region!

Yes, would have been good in that regard but I could never understand how seabed mining of an abundant mineral resource could be economic when there is so much of it around on land, eg The Pilbara! OK, not exactly the same but the ironsands steelworks still have to compete with the iron ore variety.

[Goldstein]

It's a bit of a dirty industry. Oil and gas are different, it's about mitigating risk (the exception being fracking). There's no way you can mine the sea floor in an environmentally sound way.

There would have to be a big economic win to justify the political backlash especially in election year. Maori, Labour and the Greens would be very much against it. I bet National are breathing a sigh of relief.

[MAC]

Sometimes new things come with flaws and I wonder if we will see a management re-shuffle at the EPA now. Something obviously is broken at senior levels, or rather never worked from the get go.

Clearly they have failed to manage a process which should be able to find some form of diplomatic compromise between nervous well meaning first time environmental DMC representatives and a prospective business willing to do more to move forward.

As I understand, the EPA process requires a ‘completeness’ assessment of a submission when it is first made, surely this was the big opportunity for EPA management to advise TTR that they needed to step back and do a little more work first. Especially as all must have respected it was the very first application.

I sense that some heads may rightfully roll at the EPA in response to this sort of backlash.

http://www.scoop.co.nz/stories/BU140...-rejection.htm

[artemis]

So 7 groups have lodged appeals against the EPA decision. I would expect some to be withdrawn, as there is no government funding for these appeals and there will be considerable cost. Appeals have to be on points of law, so will be interesting to see what those grounds are. And how much grandstanding the court will allow.

[Lola]

So 7 groups have lodged appeals against the EPA decision. I would expect some to be withdrawn, as there is no government funding for these appeals and there will be considerable cost. Appeals have to be on points of law, so will be interesting to see what those grounds are. And how much grandstanding the court will allow.

Main arguments for appeal (based on quotes from Debbie Packer anyway) seem to be around the split nature of the Decision.
Hard to see that would constitute a failure under law. Presumably the Review Panel would have been set up legally in all respects including the Chairman having a casting vote.

NZ needs to deepen its economy especially at this time when farmers are getting slammed. This titanomagnetite resource has potential to add 3% pa plus to our GDP.

Only a matter of time before tourism gets wacked too because some frantics will want to ban air travel.

[Joshuatree]

If any bottom fishers are int.
Manhattan to Acquire Trans-Tasman Resources Limited 45 pages 5.8MB

[artemis]

TTR appeal in the High Court next week.

[artemis]

TTR to take appeal against the High Court decision (that went against its EPA decision) to the Appeal Court.