Another big South Island gold mine moves ahead

Another big South Island gold mine moves ahead
A historical image of gold mining at Waiutu, near the site of the new Reefton mine. (Image: Getty)
Pattrick Smellie
A second new South Island gold mine development has been all but confirmed near Reefton, at the Snowy River Project owned by Australian-registered Federation Mining.The company is exercising its option to purchase the development rights to Snowy River, previously known as the Blackwater mine, for US$30 million (NZ$49.4m) from Australian securities exchange-listed gold miner OceanaGold.It will use proceeds of an asset sale last year to fund that option and is in advanced discussions to raise an additional $100m to develop a gold mine for which i...

More Primary Sector

MyFarm KiwiFruit Fund launches $35 million capital raise
Primary Sector

MyFarm KiwiFruit Fund launches $35 million capital raise

The MyFarm KiwiFruit Fund has launched a $35 million capital raise for wholesale and institutional investors, and those offshore that qualify for the Active Investor Plus visa.Units are being offered at $1.02, a 5% discount to the fund’s net asset value.The offer, which will clos...

TTR seabed mining bid not affected by law change
Primary Sector

TTR seabed mining bid not affected by law change

No-go zones will not apply to controversial mining bid.

Govt to change offshore renewable regime
Primary Sector

Govt to change offshore renewable regime

No-go zones for seabed mining proposed.

Ian Llewellyn 17 Sep 2025