Iron sand project could boost GDP by $265m a year: NZIER

Seabed mining of the coast of South Taranaki could bring in millions of dollars in royalties and corporate tax, the New Zealand Institute of Economic Research says. (Image: Getty)

John Anthony

Fri, 04 Apr 2025

A New Zealand Institute of Economic Research report commissioned by the Australian company Trans-Tasman Resources says its proposed Taranaki iron sands mining project could increase NZ’s annual GDP by $265 million and create an estimated 1,365 new jobs nationwide.Trans-Tasman Resources (TTR) is proposing to extract iron sands rich in vanadium and titanium from the seabed between 22km and 36km off the coast of South Taranaki in waters ranging between 20m and 50m deep.The project, opposed by iwi and environmental groups due to environmental...

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