Tuesday, July 5, 2022

Chatham submits NZ’s first marine consent

Chatham Rock Phosphate today submitted New Zealand’s first marine consent application under the new Exclusive Economic Zone regime to the Environmental Protection Authority.

The firm is in the final week of a capital-raising for between $4 million and $10m in its first public investment offering in New Zealand.

Chatham has raised $21.5m for the project over the past two years from its existing shareholders and through private placements to qualified investors.

The EPA, New Zealand’s environmental regulator, is expected to decide on the application in January next year, after a full public process.

“This application is for a project of national significance offering fertiliser security for New Zealand’s primary industry, significant export potential and import substitution as well as environmental benefits,” Chatham chief executive Chris Castle said.

“We have done our homework and know this project stacks up technically, environmentally and financially.

“The application has been developed by a team of experts who have delivered scientific rigour.

“It has also incorporated input from a wide range of stakeholders who have challenged our thinking and made valuable contributions to the completed document.”

The environmental impact assessment forming the centrepiece of Chatham’s marine consent application will be considered under the new EEZ environmental consenting regime, which came into force on June 28 as part of the EEZ and Continental Shelf (Environmental Effects) legislation.

“We believe we have prepared all of the information the EPA needs, under the terms of the EEZ Act,” Castle said.

“We also feel confident any stakeholders who may have concerns will see the EIA comprehensively addresses all environmental issues.”

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