ASX company assures it was aware of risks in buying TTR

The waters off the Taranaki have been the subject of a long running battle over what the law means. (Image: Depositphotos)

Greg Hurrell

Wed, 10 Aug 2022

An Australian mining company seeking to buy would-be New Zealand seabed miner Trans-Tasman Resources says it was fully aware of the political and regulatory risk when it agreed to the deal.ASX-listed Manuka Resources (MKR) announced on Aug 1 that it had entered into a purchase agreement for Trans-Tasman Resources (TTR), which is seeking to mine iron sands in the South Taranaki bight seabed.Its resource consents were quashed by the supreme court after a long legal battle and they have been sent back to the regulator – the Environment Prote...

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