Left Menu
Development News Edition

Chatham Rock Phosphate sings Information Sharing agreement with Ngāti Mutunga

CRP holds a mining permit to extract rock phosphate from an offshore area located on the Chatham Rise (the Project).


Chatham Rock Phosphate sings Information Sharing agreement with Ngāti Mutunga
The first objective of the Parties is to arrange close engagement with the Chathams community to ensure that the Project proceeds in a form that satisfactorily addresses both the reasonable concerns and aspirations of that community. Image Credit: Pixabay

Chatham Rock Phosphate Limited (TSXV: "NZP" and NZAX: "CRP" or the "Company") advises with great pleasure that today we executed an Information Sharing and Collaboration agreement with Ngāti Mutunga O Wharekauri AHC (Ngāti Mutunga).

CRP holds a mining permit to extract rock phosphate from an offshore area located on the Chatham Rise (the Project). In order to pursue the Project CRP needs to obtain a marine consent under the Exclusive Economic Zone and Continental Shelf (Environmental Effects) Act 2012 (Marine Consent).

Ngāti Mutunga is a wholly owned subsidiary of Ngāti Mutunga o Wharekauri Iwi Trust, based on the Chatham Islands and has a significant interest in protecting the Chatham Islands marine environment and securing the economic, social and cultural well-being of the Chathams community.

Following discussions between the Parties, they now wish to formally collaborate on the Project with a view to:

• Developing a CRP Marine Consent application that meets the environmental, economic, social and cultural objectives of both Parties individually and together;

• In the event that the content of such an application is mutually agreed, to formally support the lodging of the CRP Marine Consent application for approval;

• In the event that the CRP Marine Consent application is successful, ensuring that all operations implemented under that consent are carried out in in a manner that best mitigates environmental effects and respects indigenous rights, beliefs and customs to protect the interests of the Chatham Islands community; and

• Ensuring that the Chatham Islands community realises tangible benefits from the Project.

The first objective of the Parties is to arrange close engagement with the Chathams community to ensure that the Project proceeds in a form that satisfactorily addresses both the reasonable concerns and aspirations of that community. The agreement will be a success if it results in informal community support for the Project. If mutually agreed on ways of addressing reasonable community concerns and aspirations cannot be found then the terms of the agreement will no longer apply.

Ngāti Mutunga o Wharekauri Asset Holding Company director Tom McClurg said "we consider this Project to be one that can potentially work for the benefit of our people, our economy and the environment. We look forward to working closely with the Chatham Rock Phosphate team to ensure that commercial, social and cultural benefits are realized by this Project and that these benefits are not at the expense of the marine environment that is so important to us all. We applaud the willingness of CRP to share information and respond to community perspectives that are evidenced by this innovative agreement".

Chatham CEO Chris Castle noted "the communities of the Chatham Islands, represented by and including Ngāti Mutunga o Wharekauri, Moriori, and the Chatham Islands Enterprise Trust (CIET), are the stakeholders most directly affected by the operations of our proposed rock phosphate recovery operation. Significantly these stakeholders also have major fishing industry investments in the waters surrounding the Chatham Islands.

It's very exciting that we have reached a point where we can begin working together to ensure that this project can proceed in a manner that protects and benefits all concerned. The signing of this collaboration agreement is a very, very significant milestone for Chatham Rock Phosphate as it signals important support for our project (if it is appropriately managed) from such directly affected stakeholders.

We are also gratified that Ngāti Mutunga o Wharekauri is proposing to make a significant future investment in Chatham Rock Phosphate if the agreement proceeds and the Marine Consent is obtained. In those circumstances, Ngāti Mutunga o Wharekauri and possibly Moriori and the CIET would receive options that are in total equal to 15% of the number of shares on issue at the time a Marine Consent that has their support is granted (being 5% per party). The exercise price of these options will reflect and recognise the accumulated investment made to that date by our shareholders.

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION/BLOG/INTERVIEW

Future of Food: Technology fostering the road to global food security

Technological innovation can help address most of the pressing issues facing the world today including food security by enhancing productivity, improving financial services, managing resources, addressing environmental concerns, etc....

Conspiracy theories on COVID 19: Legislators, Scientists, and Journalists all joined the Caravan

Conspiracy theories are not new for virus epidemics. There have been conspiracy theories on HIV-AIDS, Polio Vaccines, Ebola Virus, and several other diseases as well. However, what makes the 2019 Novel Coronavirus different from others is ...

Now it’s a war, Uganda deploys army to combat locust swarms

Its for the first time after 1986, the locust swarms have attacked Uganda twice in a season. With the increasing number of countries of Africa under attack by locust swarms, the problem seems to have taken a regional paradigm. Its very diff...

Top 10 Fake News, Myths and Realities on 2019 Novel Coronavirus COVID 19

With nearly 1500 deaths by January 14 and around 65,000 infections in China, the Novel Coronavirus 2019 has become one of the worst health epidemics of the 21st Century. However, 8,573 people have been cured but the rumor mongers are a...

Videos

Latest News

Trump's visit designed to distract from govt's failures, says Manish Tewari

Congress leader Manish Tewari on Monday called US President Donald Trumps visit to India a fluff and said that this has been designed by the BJP to divert from the governments failures. Only gainers of realDonaldTrump 36-hour Tamasha commen...

South Korea becomes biggest coronavirus centre outside China

South Korea reported 161 more coronavirus cases Monday, taking the nationwide total to 763 and making it the worlds largest total outside China.The country has seen a rapid surge in the number of coronavirus cases -- adding more than 700 ca...

Disney's 'Onward' to feature its first openly LGBTQ character

Disneys upcoming animated fantasy film Onward will feature the first openly LGBTQ animated character of the production house, reported Fox News. The voice for the character which is a cop will be given by Lena Waithe.While Waithe is all set...

An honour to welcome Trump to Gujarat: Vijay Rupani

Ahead of US President Donald Trumps visit, Gujarat Chief Minister Vijay Rupani on Monday said it is an honour to welcome the visiting dignitary on his maiden visit to the state. On behalf of 65 million Gujaratis, its an honour to welcome th...

Give Feedback