Chatham Rock seeks another $1.25M to pursue new seabed mining licence

Thu, 05 Mar 2015

By Pattrick Smellie March 5 (BusinessDesk) - Would-be seabed miner Chatham Rock Phosphate is looking to raise a further $1.25 million as its key staff take pay cuts and the company pursues both legislation changes and a new mining consent under the controversial new law governing economic activity in New Zealand's offshore Exclusive Economic Zone. The announcement comes as the Environmental Defence Society describes as "fanciful" reported expectations that there will be either a "wholesale or urgent review of the EEZ Act" following the re...

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