New Zealand backs two West Coast critical-minerals projects with funding
New Zealand's government said it will fund two critical-minerals projects on the West Coast of the South Island. The Westland Mineral Sands project near Westport will receive $30 million, with Tāiko Critical Minerals in Barrytown also getting support.
According to RNZ Business, the government has allocated public funding to two mining projects on the West Coast of the South Island. The Westland Mineral Sands project near Westport will receive $30 million in support.
The Tāiko Critical Minerals project in Barrytown was also included in the funding. Critical minerals carry strategic importance because they are used in a wide range of goods, from advanced technology to clean-energy equipment.
The support's effects on jobs and investment in the region will become clearer over time. The stages the projects must pass through and when they reach production will be watched in the period ahead.
Read next
Australian mining firm eyes $4 billion prize after Otago gold find
Australia's New Age Exploration announced an early-stage gold find in New Zealand's Otago region, pointing to a potential $4 billion prize. The company disclosed its findings to the Australian Securities Exchange.
OPEC+ raises oil output again despite tumbling crude prices
Guam and Northern Marianas brace for Super Typhoon Bavi
Falling oil prices give RBI more room to focus on growth, Standard Chartered says
