CRP 0.00% 10.3¢ chatham rock phosphate limited ordinary shares

Ann: GENERAL: CRP: Chatham

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    					CRP
    13/11/2014 08:30
    GENERAL
    
    REL: 0830 HRS Chatham Rock Phosphate Limited
    
    GENERAL: CRP: Chatham
    
    Media Release
    12 November 2014
    
    Chatham Rock Phosphate issues draft conditions
    
    Chatham Rock Phosphate Limited (CRP) has provided an updated set of draft
    conditions to the Environmental Protection Authority Marine Consent hearing
    to comprehensively address the issues discussed by experts and raised by
    submitters.
    The conditions cover mining operations, the mine plan and environmental
    management - including of marine mammals and seabirds. The conditions
    include extensive monitoring and mitigation proposals and a detailed adaptive
    management approach, which involves staged mining and addresses unexpected
    adverse impacts.
    It also provides details of a proposed environmental reference group, an
    environmental compensation trust and Chatham Islands Trust.  Proposed
    protections include mining exclusion areas, a remediation bond, a dispute
    resolution process and a review process.  The conditions also spell out
    environmental thresholds and monitoring conditions.
    The full draft conditions have been supplied to submitters and the
    decision-making committee and can be found on the CRP application pages of
    the EPA website.
    Managing director Chris Castle said the conditions have been developed
    following the helpful expert conferencing that enabled experts representing
    CRP and submitters to agree on a wide range of scientific information. The
    most significant areas where experts have agreed include:
    - The area is not important for commercial fishing and CRP activities will
    have either no or negligible impacts on fish stocks
    - There are no concerns about radiological effects
    - Environmental impacts are almost entirely confined to the immediate mining
    area .
    
    CRP's annual mining footprint of 30 km2 compares with an annual seabed fish
    bottom trawling footprint of 50,000 km2 including 3,000 km2 of previously
    untouched seabed damaged by fishing activities every year.
    The phosphates will be recovered from a total area of 450 km2 over the 15
    years of the proposed mine life, less than half of 1% of the Chatham Rise.
    
    "Our project offers new environmental benefits for New Zealand's farming
    industry, by using a low cadmium, low carbon footprint, low run-off,
    potentially organic product." Mr Castle said the project will create a new
    industry with strong ties to agriculture, New Zealand's most important export
    earner.
    
    "Our product will enhance New Zealand's security of supply and reduce our
    exposure to politically risky sources of a critical input to our biggest
    industry."
    
    The conditions will be presented in the final evidence heard by the EPA
    decision-making committee on Monday 17 November.  This will be followed by
    submitters and (on 19 November) CRP counsel James Winchester presenting
    closing statements.
    
    The committee will provide a decision on the marine consent application by 18
    December.
    
    Contact Chris Castle on +64 21 55 81 85 or [email protected]
    End CA:00257582 For:CRP    Type:GENERAL    Time:2014-11-13 08:30:06
    				
 
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