Oh no! More bad news for the coalition from hell

The economic news just keeps on getting better and better.

Coming into election year it is the sort of news that the opposition have been dreading. The NZ Herald reports:

New Zealand’s iron sand exports could soar to almost 10 million tonnes a year by 2016, as Australia’s BlueScope Steel adds shipping capacity at its Taharoa site and Trans-Tasman Resources remains hopeful of approval for its offshore mining venture.

ASX-listed BlueScope said last week it will introduce a 175,000 tonne slurry loading vessel at Taharoa, south of Kawhia, in 2016 and spend A$50 million through 2018 on mining, processing and ship loading equipment.

The third ship will add 1.3 million tonnes a year of export capacity at Taharoa, which is expected to rise to about 4 million tonnes annually in 2016, the Melbourne-based company said. It estimates the resource at Taharoa is sufficient to produce 4 million tonnes a year for 15 years.  

Trans-Tasman plans to extract between 4 million and 5 million tonnes a year starting in 2016 from a 65.76 square kilometre area off the North Island coast, west of Patea. Its application suffered a setback this month when the Environmental Protection Authority extended the submission period until Jan. 28 and pushed back the start date for public hearings after administrative mis-steps.

The company has said it plans to raise as much as US$500 million in debt and equity from a combination of existing and new shareholders, and prospective Chinese customers in mid-2014, assuming it wins regulatory approvals.

This sort of news is fantastic and more importantly pours even more money into the provinces that Labour claims are languishing.


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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.

To read Cam’s previous articles click on his name in blue.

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