Straterra 'shocked' over EPA decision on ironsands mining

The declining of Trans Tasman Resources' marine consent application yesterday has come as a shock and a surprise, Straterra says.

"I understand that the decision to decline hinged largely on there being too much uncertainty in relation to the environmental effects of the proposal and to Trans Tasman Resources' proposals for addressing those effects," Straterra CEO Chris Baker said today.

"While I have not had the opportunity to examine the Decision Making Committee's decision in detail, I make the observation that everything we do in life carries uncertainty, and that the Exclusive Economic Zone and Continental Shelf (Environmental Effects) Act has provisions to deal with uncertainty."

"One has to ask the question: has the process let us down and not allowed adequate consideration of the uncertainties and the conditions that would allow these uncertainties to be dealt with.

"At issue is an ironsands resource on the seafloor more than 22km offshore at relatively shallow depths where there is natural wave action on the seafloor in any event, and that supports very little life. Compared to the surrounding area the footprint of the mining operation would be very small. Modern society needs these resources, as does the New Zealand economy, and it is difficult to imagine that the environmental impact of the proposed mining could not be managed in an acceptable manner. I am sure the company could have worked with conditions that required review over time. This decision sends an unfortunate signal to potential investors.