Ann: GENERAL: CRP: CRP Response to TTR decision

• Release Date: 19/06/14 08:30
• Summary: GENERAL: CRP: CRP Response to TTR decision
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					CRP
19/06/2014 08:30
GENERAL

REL: 0830 HRS Chatham Rock Phosphate Limited

GENERAL: CRP: CRP Response to TTR decision

CRP response to TTR decision

18 June 2014

Chatham Rock Phosphate (NZ: CRP) ("CRP" or "the Company") today notes the
announcement made by Trans-Tasman Resources (TTR) regarding the marine
consent application decision of New Zealand's Environmental Protection
Authority (EPA) Decision-making Committee (DMC).

While CRP has yet to study the decision in detail, we remain very confident
we have submitted a robust and comprehensive application to the EPA for our
marine consent, which will meet the legal tests under the relevant New
Zealand legislation. We have proposed comprehensive monitoring, mitigation
and compensation conditions, following discussions with interested parties.

We feel for TTR as the company has worked hard and invested significant
capital.  However it is important to remember our application cannot be
compared with TTR's.  It is for a different mineral, in a very different
marine environment and using different extraction methods and will be
considered by a different Decision-making Committee.

CRP's application also has some unique environmental and economic benefits
which include:
o It offers security of supply for New Zealand's most significant industry
o It's an organic New Zealand-origin product that can be applied without any
chemical processing
o It'll reduce the carbon footprint by lowering transport distances
o It has one of the lowest known concentrations of cadmium of any phosphate
rock
o It reduces water pollution from run-off when used as a direct application
fertiliser because it releases slowly, requiring less frequent applications
than conventional fertilisers, further reducing its carbon footprint
o The rock is highly reactive, heightening its effectiveness as a fertiliser,
and has strong liming qualities.

According to regulatory filings, the main basis of the decision regarding
TTR's marine consent application relates to concerns about potential adverse
environmental effects.

CRP's own Marine Consent to the Environmental Protection Authority, filed in
May 2014, comprehensively accounts for the low level of potential
environmental impacts proposed by its own mine plan throughout the
development, operation and reclamation of its permit area.

CRP continues to prioritise environmental responsibility within its role as a
corporate citizen and economic contributor to New Zealand. Accordingly, CRP
continues to engage with EPA, Iwi and all relevant local stakeholders as part
of the six-month process towards the DMC's decision on its application, which
is still expected in Q4 2014.

For further information, please contact:

Chatham Rock Phosphate
CEO/ Corporate Development
 Chris Castle
+6421 558 185

Linda Sanders
+6427 471 5593

please note we are in London

Tavistock Communications
PR and IR Advisor
Emily Fenton/ Nuala Gallagher/ Simon Hudson
+44 20 7920 3150
End CA:00251741 For:CRP    Type:GENERAL    Time:2014-06-19 08:30:09