Issue 39 – June 2012
Permit holders are being asked to consider transitional arrangements to a new Crown Minerals
In early March 2012, the Ministry of Economic Development (MED) sought feedback on a wide range of proposed changes to the Crown minerals Act regime. Consultation did not cover how existing permit holders should transition to a new Crown Minerals Act regime. As a follow up, the Ministry is now seeking views on preferred options to transition.
Submissions are now sought on a supplementary discussion paper that discusses three options:
- to continue the existing approach of managing every operation according to the minerals
programme that is current when the operation was first permitted
- to revoke all existing rights and move all permit holders to the new regime from day one
- grandfather royalty conditions and transition permit holders to new minerals programmes over
Feedback received on the discussion paper will be incorporated into the package of proposed reforms.
Submissions close 5pm, Friday 8 June 2012.
Summarised from a New Zealand Petroleum News 'Newsflash', 18 May 2012.