Levi Gibbs

Published: January 23, 2023

Submitting To: The Economic Development, Science and Innovation Select Committee

Issue for Business: The amendment to the Bill introduces and amends several changes. Firstly, the Bill introduces statutory requirements for the mineral extracting sector to engage with iwi and hapu. BEC supports the underlying premise and intent of the amendment. However, BEC questions the policy problem, considering the industry largely has a good working relationship with iwi and hapu already. The statutory requirement runs the risk of creating a tick-box exercise, with the industry complying with the minimum. Secondly, the Bill amends the wording 'promote' the prospecting and extraction of crown owned minerals with ''manage.'' The amendment also changes ''promote permitting'' with 'offer permits from time to time.' BEC notes that these last two amendments seem minor and relatively insignificant. However, they both send a clear anti-mining signal, and is likely to deteriorate investor sentiment towards New Zealand's minerals sector. Throughout the submission, BEC reiterates the ongoing importance of adequate critical minerals supply throughout the energy transition. BEC believes the changed wording should not proceed.

Outcome: Ongoing. The Bill remains in select committee.