Ann: MINE: CRP: CRP Mining Permit Granted

• Release Date: 06/12/13 12:04
• Summary: MINE: CRP: CRP Mining Permit Granted
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					CRP
06/12/2013 10:04
MINE

REL: 1004 HRS Chatham Rock Phosphate Limited

MINE: CRP: CRP Mining Permit Granted

New Zealand Petroleum and Minerals today announced that CRP has been granted
a mining permit in respect of its phosphate project on the Chatham Rise. The
permit is the first granted under the amended Crown Minerals Act which came
into force on 25 May this year.

Attached to this announcement are the media release of NZ Petroleum and
Minerals and a question and answer sheet.

The approval of a Mining Permit for Chatham Rock Phosphate to extract rock
phosphate from the seabed in the Exclusive Economic Zone is a significant
milestone for New Zealand as well as the company and the industry, Managing
Director Chris Castle said today.

CRP applied for permission to extract New Zealand's major phosphate resource
under the previous legislation last year and the application was transferred
to the new regime, designed to operate in conjunction with the EEZ
legislation which applied from June.

"This is our most important milestone to date," Mr Castle said.  "It means
we're half way to being permitted, so the permit significantly derisks the
company."

Mr Castle said the approval also demonstrates the mining industry's important
contribution to the wider economy. The project will make New Zealand $900
million richer and contribute $250 million a year in exports and import
substitution.

Chatham Rise rock phosphate can be used as an ultra-low cadmium
direct-application fertiliser. It has been proved as effective as processed
fertiliser and reduces run-off effects on New Zealand waterways by up to 80%.
 As a local source it will provide fertiliser security for New Zealand, can
be blended with other forms of fertiliser to reduce cadmium levels in
processed fertilisers and reduce New Zealand's transport-related carbon
footprint and costs.

Mr Castle said CRP's remaining final milestone is a Marine Consent, which
will be applied for early next year.  The other key risk-factors already
substantially satisfied were quantifying the resource, designing the
extraction techniques and identifying markets.

CRP has used the time while the Mining Permit application was considered to
significantly improve its Marine Consent application.

"We've gathered a lot of new information with a particular focus on the best
ways we can answer the key questions interested parties want to know.  We've
talked to a lot of people and they've given us a lot of insights into their
potential concerns.   We've also had sections of our Environmental Impact
Assessment peer reviewed by overseas experts who have suggested improvements.

"We feel confident we can satisfy those concerns and demonstrate the
environmental impacts of our operations will be minor and localised.  We've
also thought carefully about mitigation and monitoring and are continuing to
talk to anyone with an interest in the project."

For further information please contact:

Chris Castle
Managing Director
Phone: 021 55 81 85
Email: [email protected]
End CA:00244830 For:CRP    Type:MINE       Time:2013-12-06 10:04:49