CRP 4.76% 11.0¢ chatham rock phosphate limited ordinary shares

Ann: GENERAL: CRP: CRP decision delayed by business days

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    • Release Date: 16/01/15 13:15
    • Summary: GENERAL: CRP: CRP decision delayed by business days
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    					CRP
    16/01/2015 13:15
    GENERAL
    PRICE SENSITIVE
    REL: 1315 HRS Chatham Rock Phosphate Limited
    
    GENERAL: CRP: CRP decision delayed by business days
    
    Media Release
    CRP decision delayed by 6 days
    
    16 January 2015
    
    The Decision Making Committtee of the Environmental Protection Authority
    today said it would take another six working days to reach a decision on
    Chatham Rock Phosphate's marine consent application.  A decision is now due
    on or by 10 February.
    The DMC announcement (repeated below) said the delay for the decision,
    previously expected on or before 30 January, was due to the unavailability of
    DMC members during December and January.
    CRP Managing Director Chris Castle said while he, along with all
    shareholders, wants a decision as quickly as possible, he is pleased the
    committee is taking its time to reach what he believes will be a positive
    result.
    "It's a bit like exam results. We've know we have done the course work
    comprehensively, we've sat the exam and we know we answered everything well -
    now we are waiting for the results.
    "We remain very confident 2015 will be an exciting year of progress for this
    project," Mr Castle said.
    Chatham Rock Phosphate Limited - Marine Consent Application
    M22 - Minute of the Decision-making Committee - 16 January 2015
    Extension of Time Limits and Decision on the Application
    1. The DMC, pursuant to section 159 (1) (a) of the Exclusive Economic Zone
    and Continental Shelf (Environmental Effects) Act 2012 (the EEZ Act), has
    extended the time period in which to make a decision on the CRP marine
    consent application until 10 February 2015.
    2. Where a hearing is held, section 68 of the EEZ Act requires that the DMC
    must make its decision on an application as soon a reasonably practicable and
    no later than 20 working days after the conclusion of the hearing. The
    hearing concluded on 12 December 2014. 30 January 2015 is 20 working days
    after the conclusion of the hearing (the EEZ Act excludes the period between
    20 December and 10 January as non-working days).
    3. The DMC's consideration of this application was originally scheduled to be
    completed by 27 November 2014. Adjustments to the pre-hearing timetable and
    the deferment of the Chatham Islands hearing dates necessitated an extension
    of that timeframe. The timetable has also been disrupted by the
    unavailability of DMC members in December and January owing to prior
    commitments.
    4. In extending the time period in which to make a decision, we have taken
    into account the requirements to deal with the application as promptly as is
    reasonable in the circumstances and to establish a procedure that is
    appropriate and fair, under section 40 of the EEZ Act. In addition, we have
    considered the matters required under sections 159 and 160 of the EEZ Act.
    5. We consider that no party would be adversely affected by the extension,
    and that the extension serves the interests of the community in ensuring that
    the DMC is able to achieve an adequate assessment of the application.
    For the DMC:
    Neil Walter
    DMC Chair
    16 January 2015
    
    Chris Castle, Managing Director +64 21 55 81 85 or [email protected]
    End CA:00259824 For:CRP    Type:GENERAL    Time:2015-01-16 13:15:05
    				
 
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