PERTH (miningweekly.com) – The New Zealand government is opening its doors to bidders interested in platinum exploration in a programme called Platinum New Zealand 2013.
Companies interested in exploring for the precious metal can submit work programmes for the five areas open for bidding, which include four defined blocks in Longwood, as well as tenement areas in Grey River, Murchison West, Murchison East, and East Nelson.
“Platinum New Zealand 2013 presents an exciting opportunity for New Zealand,” said GM of New Zealand Petroleum and Minerals (NZP&M), a branch of the Ministry of Business, Innovation and Employment, David Binnie.
“Due to the nature of exploration and mining activities for platinum, we can expect interest in this tender from companies with a high degree of experience, understanding and advanced technologies.”
Binnie noted that the world demand for platinum was likely to move higher in the future as supply was quite constrained.
“The improving global economy is boosting demand for platinum as falling supply from other producer countries, such as South Africa, is leaving a shortage.”
New Zealand has few areas with platinum prospectivity and much of this has been subject to ad-hoc exploration over the last several decades. However, the government wants to manage all minerals exploration interests strategically, Binnie said.
Competitive tenders, where work-programme-based bids were submitted and assessed across a number of criteria, ensured the best operators capable of carrying out safe and responsible exploration activities were granted exploration permits, he added.
The launch of Platinum New Zealand 2013 programme followed consultation with 17 iwi and hapū, and engagement with 10 local authorities between June and August. Eight submissions were received by NZP&M to the Platinum New Zealand 2013 proposals, with the feedback helping shape the make-up of the final tender areas.
“The government is committed to ongoing engagement with iwi and ensuring that areas of sensitivity are respected. As part of the tender process we encourage information sharing with iwi for the protection of cultural sites. The terms and conditions of the tender also require permit holders to engage with iwi and to report back to NZP&M annually,” said Binnie.
Companies interested in exploring for minerals have until April 2014 to submit staged exploration work programme bids. NZP&M expects to grant exploration permits, which will be issued under the Crown Minerals Act, in December 2014 for an initial five-year period.