Today, as seabed miners Trans Tasman Resources (TTR) withdrew from their failing Fast Track bid, the NZ government has announced a$80 million dollar ‘critical minerals slush fund.’ Greenpeace is questioning if this signals an invitation for TTR to have another bite at the cherry.
It comes just weeks after it was revealed the NZ government has been in backroom talks with the US Trump administration over a minerals deal, which includes vanadium, found at TTR’s desired mining site off Taranaki.
“They say the definition of insanity is doing the same thing over and over again and expecting a different result,” says Greenpeace Aotearoa’s Juressa Lee.
“The courts have said no, iwi have said no, thousands of New Zealanders have said no, and now even the Government’s own Fast-Track panel has declined it. Yet here is Shane Jones, doubling down with $80 million of taxpayer money to try to breathe this destructive, failed industry back to life.”
In 2024, TTR withdrew from the EPA process right before new Fast Track legislation was announced by the government, allowing them to apply.
“In the same moment that TTR realises their Fast Track dreams are over, we’ve got the NZ government desperately finding a way to make their project a reality,” says Lee.
“We have to ask: is TTR’s withdrawal today a genuine exit, or just a tactical retreat knowing the government is orchestrating a 6th bite at the cherry?
“Is it planning to re-apply to the now amended and “even more favourable” Fast-Track, hoping the Government will appoint a more obedient panel next time, while the government uses its new slush fund to pave their way with infrastructure?
“It seems as though the Government is actively coaching mining companies on how to bypass the very processes that are meant to vet them.”“If this is the case, we certainly hope TTR submits a new application rather than the same one it has flogged for a decade and we’ve beaten down at every step of the way.”
On Thursday, TTR released news that they had officially withdrawn from the Fast Track process, after they were given a draft rejection decision earlier in February. The Panel ruled that seabed mining in Taranaki could harm threatened species like pygmy blue whales and penguins, and could not be safely managed, and that economic benefits don’t outweigh the risks.
On the same day, Shane Jones and Winston Peters announced $80 million dollars earmarked for critical minerals projects in the Regional Infrastructure Fund.
“By funneling $80 million into these projects, Shane Jones and Christopher Luxon are laying the red carpet for overseas mining giants to treat New Zealand as a low-standard extraction zone that services US interests,” says Lee.
“This $80 million belongs to the people of Aotearoa for real infrastructure, like renewable energy, not as a consolation prize for mining companies who can’t get their projects past a basic environmental assessment.”
“So who are these mining projects for? It sounds as though they are designed to pander to the wants of the Trump administration, and are not in the best interests of New Zealanders.”
“Iwi, environmentalists, community groups, and ocean protectors have been fighting for decades. Any attempt to start seabed mining in Aotearoa – whatever avenues or work around mining companies try to use – they will face strong resistance.”
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