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...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}