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The New Zealand First political party has announced a campaign policy that will see 50 per cent of any royalties gained from mining to be directly returned to the region from which it came, not Wellington.
This is part of a national mining policy package to restore common sense to the sector, deliver real returns to the regions, and unlock the economic potential New Zealand has been sitting on for far too long, leader Winston Peters says.
“The policy package recognises the vital role mining plays in New Zealand’s economy and regional communities.
“Mining is one of our most productive sectors. It contributes billions to our economy, supports thousands of jobs, and drives real growth without fuelling inflation.
“This is about mining smarter, adding value here in New Zealand, and making sure the benefits flow directly back to our regions.”
Peters says New Zealand’s mining industry is burgeoning “and we need to get ahead of its expansion to ensure we are building up our regions’ wealth, infrastructure, and future potential”.
A core part of the policy is ensuring communities directly benefit from mining activity.
If mining happens in a region, a 50 per cent share of the royalties will stay in that region, supporting local infrastructure, services, and long-term development.
It will be invested in water services, flood protection, energy generation opportunities, tourism opportunities, transport and connectivity upgrades, enabling housing development in areas of high minerals industry growth, and critical infrastructure projects.
“We will back that up with targeted, regional investment to allow these projects to succeed, and will ensure our Mines Rescue capability is properly funded.
“We have duplication, delay, and rules that don’t improve environmental outcomes but do a very good job of stopping investment and costing jobs. We are putting a stop to that.
“New mining zones will have clearer rules around where mining can occur, recognising regions where mining is already a key part of the economy.
“Mining in the right places, with the right rules, will give businesses the confidence to invest for the long term and continue creating jobs in regions that rely on mining.
“And to complement this, the duration of mining permits needs to reflect the maturity of the sector.
“We will do that by providing longer permits that creates more certainty. more confidence, and more investment.”
