CRP 0.00% 10.3¢ chatham rock phosphate limited ordinary shares

Ann: GENERAL: CRP: CRP Marine consent hearing starts today

  1. lightbulb Created with Sketch. 2
    • Release Date: 25/09/14 11:15
    • Summary: GENERAL: CRP: CRP Marine consent hearing starts today
    • Price Sensitive: No
    • Download Document  3.48KB
    					CRP
    25/09/2014 11:15
    GENERAL
    
    REL: 1115 HRS Chatham Rock Phosphate Limited
    
    GENERAL: CRP: CRP Marine consent hearing starts today
    
    Media Release
    CRP Marine Consent hearing starts today
    
    25 September 2014
    
    Chatham Rock Phosphate today launched its application to the Environmental
    Protection Authority for a marine consent to extract rock phosphate nodules
    from the seabed on the Chatham Rise, 450 km from New Zealand.
    CRP, a New Zealand NZAX listed company, has spent four years and nearly $30
    million to research its proposals to mine 1.5 million tonnes for use on New
    Zealand farms and export markets.
    Counsel James Winchester, in his opening submissions, said the research has
    found effects are confined to a small area.  He said the key conclusions from
    an enormous body of evidence were:
    - The area is not significant for fishing or spawning
    - There is expert consensus the effects on fish and fishing are low
    - Modelling of sediment plume shows the effects will be confined and the main
    impact on benthic (seabed) organisms will be within the mining blocks. There
    will not be material adverse effects on fish, eggs or larvae over a wider
    area, with suspended solids quickly returning to normal between mining
    cycles.
    - Risks to marine mammals and seabirds from a single vessel and the mining
    operation are low and can be appropriately managed.
    - There will be significant and irreversible effects on the benthic
    environment where mining occurs, but these are unlikely to have flow-on
    consequences for the food web of the Chatham Rise.  While the impact included
    permanent effects on stony corals, these are present throughout the Exclusive
    Economic Zone and CRP is proposing significant mitigation.
    CRP's proposed mitigation includes mining exclusion areas covering one fifth
    of the marine consent area to include sensitive and important seabed features
    and benthic communities, and trials to create areas of hard substrate to
    enable recolonisation of stony corals and other species.
    "It is submitted that the greatest impacts and risks to the fishing industry
    and the fish that they rely on arise from their own unregulated bottom
    trawling, rather than a very small amount of seabed disturbance in an areas
    that is not important for fishing or spawning."
    Mr Winchester began his submissions saying phosphate, a natural mineral, is
    as essential to life as water, oxygen and carbon.  It cannot be manufactured,
    there is no synthetic substitute and New Zealand has no on-land sources, so
    all phosphate is imported, much from politically unstable parts of North
    America.
    
    "The availability of a high quality, low cadmium local source of rock
    phosphate on the Chatham Rise makes this a strategic resource of national
    significance."
    He said the proposed dredging process is one of the most environmentally
    benign forms of mining practiced anywhere in the world.  No overburden
    removal is required and no chemicals are introduced to the environment.
    Damage is minimal and restricted almost entirely to the mined area.
    In contrast the environmental costs and potential damage of using an
    alternative supply of phosphate involves removing vast quantities of
    overburden, containing much higher levels of cadmium and - shipped from the
    other side of the world - leaving a large carbon footprint.
     Mr Winchester said CRP is proposing a suite of conditions to deal with risks
    and effects including an adaptive management approach.
    
    Chris Castle, Managing Director +64 21 55 81 85 or [email protected]
    End CA:00255690 For:CRP    Type:GENERAL    Time:2014-09-25 11:15:06
    				
 
watchlist Created with Sketch. Add CRP (NZSX) to my watchlist
(20min delay)
Last
10.3¢
Change
0.000(0.00%)
Mkt cap ! n/a
Open High Low Value Volume
10.3¢ 10.3¢ 10.3¢ $124 1.206K

Buyers (Bids)

No. Vol. Price($)
0 7 10.1¢
 

Sellers (Offers)

Price($) Vol. No.
10.3¢ 203446 0
Last trade - 12.59pm 23/08/2024 (20 minute delay) ?
CRP (NZSX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.