Government aims to double mineral exports in next decade
Friday, 31 January 2025
Resources Minister Shane Jones talked about his vision for the future of the minerals industry in Waihi on Friday.
A strategy published on Friday shows a target of doubling mineral exports to $3 billion by 2035.
Protesters gathered outside the OceanaGold operation ahead of Jones’ speech.
The Government is aiming to double the value of mineral exports to $3 billion a year by 2035, with gold and coal expected to remain the “backbone” of the sector, Resources Minister Shane Jones says.
Jones launched a national Minerals Strategy and a Critical Minerals List at OceanaGold’s Waihi operation on Friday.
Protesters on the road outside the mine site blocked Jones bus for a time, and his speech was delayed by about half an hour. Some of the protesters also had a heated discussion with Hauraki Mayor Toby Adams.
In a forward to the strategy, Jones said gold and coal were the main drivers of economic activity for the minerals sector in New Zealand. With continued growth, they would remain the backbone of the sector.
“But our geology means we have a varied mineral endowment. There is potential for us to develop critical minerals, including those needed for new technologies and a clean energy transition.”
New Zealand to be part of the solution and could contribute to resilient and sustainable global minerals supply chains “on our terms, with a light touch on the environment, high employment standards, and consistent with Treaty of Waitangi settlements and commitments”.
The environmental impacts of mining could and would be managed to the highest standard, Jones said.
According to the strategy, mineral exports were worth $1.46b in the year to June 2023, the sector employed 5290 people and paid $21.6 million in royalties. By 2035 the aim was for “7000+” regional jobs.
Gold and silver, metallurgical coal and iron sands could be immediately scaled up as the first driver of growth, the strategy said.
New Zealand had potential for minerals such as antimony, vanadium, titanium, lithium, heavy mineral sands, and rare earth elements.
The Critical Minerals List identifies 37 minerals considered essential to New Zealand’s economy and technological needs.
Comments in the list document said it was an important first step to ensure a secure supply of the minerals needed for economic growth and resilience.
The list identified the minerals that were economically important and vulnerable to supply risk or essential to unlocking other critical minerals.
Gold and metallurgical coal had been added to the list following public consultation in recognition of their importance to the minerals sector, Jones said.
“Together, they represent 80% of our mineral exports, generating export revenues of around $1.2b in the year to June 2023.
“Simply put, New Zealand wouldn’t have the skills, machinery, resources, and capability to support a modern and responsible mining sector without them.”
Of the 37 minerals on the list, New Zealand produced or had the potential to produce 21 of them.
“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.”