Takeover of would-be seabed miner almost complete

Takeover of would-be seabed miner almost complete
TTR hopes to mine iron and other minerals off the Taranaki Coast. (Image: TTR)
Ian Llewellyn
Australian company Manuka Resources says it will complete its takeover of New Zealand’s would-be seabed miner Trans-Tasman Resources over the next seven days, following regulatory approval.Manuka told the Australian stock exchange (ASX) today that NZ Petroleum and Minerals – the country’s mining regulator – had given it approval to transfer Trans-Tasman Resources' (TTR) permit to mine in the South Taranaki Bight.Under NZ law, a change in control of mining permits must be approved by the government to test whether the...

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