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

Alliance Group going to farmer-owners for more capital
Primary Sector

Alliance Group going to farmer-owners for more capital

Co-op has previously told its members $100m to $150m may be needed.

Riley Kennedy 26 Apr 2024
The race is on to reduce emissions from NZ's livestock
Primary Sector

The race is on to reduce emissions from NZ's livestock

Researchers and investors are tackling the problem from every possible angle.

Greg Hurrell 26 Apr 2024