Crown Minerals Bill passes into law

Energy and Resources Minister Simon Bridges today welcomed the passing of the Crown Minerals (Permitting and Crown Land) Bill into law.

“The changes this Bill introduces promote a safe and sensible regulatory regime for the development of New Zealand’s petroleum and minerals resources,” says Mr Bridges.

“Oil, gas and minerals together contribute over $4 billion to New Zealand’s GDP each year and with responsible development, this contribution could be significantly greater.

“This Bill is key to New Zealand realising the potential value of these resources.  It supports the Government’s objective of growing the petroleum and minerals sectors, while ensuring better coordination of health and safety and environmental oversight,” Mr Bridges says.

The Bill aims to:

• encourage Crown-owned minerals resource development so that it contributes more to New Zealand’s economic growth
• streamline the permitting regime where appropriate, ensuring it aligns with the Government’s regulatory reform agenda and better equipping it to deal with future developments and technologies
• ensure better coordination between regulatory agencies to support high health and safety and environmental standards throughout the full cycle of resource development, i.e. during exploration, production and decommissioning of mines and wells.

In addition to the Bill, amendments are proposed to the minerals programmes and regulations that make up the permitting regime.

“This Bill provides clarity and certainty to the petroleum and mining industries.  But, importantly, it provides New Zealanders with confidence in how the Government is responsibly managing and regulating the development of our oil, gas and mineral resources.

The reforms are expected to come into force later next month.