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By Simon Hartley

Just when the dairy sector was looking healthier, Fonterra reveals a sad financial result from a venture in China.

Includes following attachments:
- Interim report 2018. (913.8 kilobytes)
- Performance review 2018. (587.2 kilobytes)

By Simon Hartley

As analysts predicted there was no change to the official cash rate. However, the US Fed rates rise may see some changes ahead.

By Simon Hartley

Gas and coal fired power played a key role in New Zealand’s energy demands in the December quarter, primarily because of a long dry period.

The Prime Minister has asked President Donald Trump to exclude New Zealand from its new steel and aluminium tariffs. While Australia may be been excluded from the tariff, New Zealand’s position is clouded.

Trustpower and its major shareholder would have both experienced a sign of relief over the TECT decision this week that may have caused some angst on future dividends to regional shareholders.

Includes following attachments:
- Media release. (162.0 kilobytes)

The University of Otago has found that wild storms have shown up how far sub-Antarctic marine life can travel.

A major mouse-eradication problem on Antipodes Island will allow help bird life to thrive again on this remote New Zealand dependency.

The spend and consequent operating loss for Nautilus Minerals in 2017 was substantial as the company advances the world’s first seabed massive sulphides mining project.

Includes following attachments:
- Management discussion. (616.0 kilobytes)
- Consolidated financial statement. (408.1 kilobytes)

New Talisman Gold Mines has been advancing test work on high grade ore at the Talisman gold mine and now looking at a pilot plant blueprint.

Includes following attachments:
- Market announcement. (241.5 kilobytes)

A Government investigation was not able to find any conclusive evidence of steel dumping in New Zealand from either China or Malaysia.

Recent News

Gold News

Gold historians may have to rewrite their records about the first gold mine in New Zealand following an archaeological quest in the deep-south.

OceanaGold has appointed a well-credentialed new non-executive director who will take up the appointment at the beginning of next month.

The aspirations for a lift in exploration at the Neavesville gold prospect, impacted by heavy storms last year, are still awaited from an Australian explorer.

The city involved in the origin of the Macraes gold mine for OceanaGold and its forerunners will be venue for a presentation on the company’s new American gold mine.

The Gold 17 Conference was held in Rotorua last year and it prompted organisers to run Gold 18 in Perth this year.

Oil & Gas News

One of New Zealand’s leading petroleum market analysts believes OMV may find some hurdles ahead in its purchase of Shell NZ assets unless it modifies its position.

The gross refining margins in all currencies in January and February were impressive for Refining New Zealand.

There has been some political jockeying by politicians, industry and regional groups following Jacinda Ardern’s comments on the possibility of no new oil exploration permits. Whether she realises it some economic damage has occurred.

There will be a new face representing Z Energy on the board of Refining New Zealand as from today.

The annual New Zealand Petroleum Conference will be held in Wellington next week and it would be nice if the media spends more time listening to key speakers than dealing with the anti-oil protesters outside.

Coal, Lignite & CSG/CBM News

The environmental group Forest & Bird will appeal the High Court decision against it relating to the proposed Te Kuha coking coal mine.

Developers of the new coal mine near Westport have had a win in the High Court against Forest & Bird but there another legal confrontation ahead.

The outrage on Valentine’s Day about ongoing coal use completely bypassed the issue that without the Huntly power station New Zealanders could have been in the dark recently.

The Land Information Minister, Eugenie Sage, who is also Conservation Minister defended her reasoning for not allowing Bathurst Resources to take up a mothballed mine in the Buller coalfield, and only showed her true Green colours.

How do you create new mining jobs on the West Coast? Perhaps it’s a good idea to find ways to bypass the anti-mining Conservation and Lands Minister.

Other Metals & Minerals News

Flinders Mines has extended the term of its executive director as the blueprint advances for a major new iron ore mine.

The Australian junior company with a daunting task of moving a high-cost iron ore project into reality has made positive steps forward with the support of New Zealand’s well-known Todd family.

A company linked to one of New Zealand’s most prominent mining figures has taken a significant share in a New South Wales explorer that once had an interest in New Zealand gold.

The potential for the European Union to crack down on high-cadmium phosphate rock imports is being seen as a plus for a New Zealand company.

Perth-based Manhattan Corporation which is linked to Trans-Tasman Resources reverse takeover is set to complete the merger at shareholder meetings for both companies next month.

Renewable Energy News

The December half year figures for turbine maker Windflow Technology shows that its major asset sale has allowed it to climb out of a financial abyss.

New Zealand Windfarms believes its changes that produced a good December half year will lead to a continuation of better times.

Listed North Island wind farm operator NZ Windfarms will have a more open trading position this week after a major shareholder sold its holding.

A study being driven by GNS Science will examine the potential for utilising geothermal energy on the West Coast.

Tilt Renewables has taken a big step forward in developing another wind farm in Victoria.

Environment News

Scientists are still studying the impact of Kaikoura’s devastating 2016 earthquake which has now shown seabed landslides saw mud travel more than 600 kilometres.

A predator eradication programme in the lower North Island is advancing with the support of one of the major energy companies.

A large part of the North Island was jolted by a “strong” category earthquake last night.

Professor Ian Plimer, one of Australia’s best known geoscientists, also a familiar face at mining conferences in New Zealand, has produced a book to counter the claims about climate and coal.

GeoNet has been upgrading its monitoring system for earthquakes on some locations, including remote and high-country areas.

Education, Science & Technology News

New Zealand’s most active volcano on White Island has seen the re-appearance of a crater lake on the floor of the active crater.

It has become a wait-and-see game to see what may happen with a maritime workers’ strike at Lyttelton on whether it can be resolved or perhaps escalate is shipping companies decide to use nearby ports.

A deepwater scientific quest now underway may lead to several improvements including an understanding on the slow slips earthquakes near Gisborne.

The annual survey of glaciers at the end of summer, organised by NIWA, is underway and is expected to show scientists a significant impact from the hot summer just experienced.

A talk on metal mineralisation in New Zealand is the subject of next week’s Auckland AusIMM meeting.

Economics, Politics & Government News

New National Leader Simon Bridges has named his new shadow cabinet and observers consider he has used the new broom approach.

The Crown accounts showed a financial position that was better than the Government had projected.

The new shadow minister of finance for the National Party is an experienced hand in the last government.

A senior accountant is concerned that a Government-initiated inquiry into taxation changes could have a negative effect on investment.

The latest National Party veteran to call it quits shows there is an interesting changing of the guard taking place.

Other News

The official cash rate is projected to continue flatlining with no impact from the pending change at the top of the Reserve Bank.

Significant "common sense" changes have been proposed for the EQC scheme.

Downer EDI is contemplating whether to appeal against a New South Wales Supreme Court decision on costs and damages it was seeking for work undertaken on a train maintenance centre.

Simon Hartley has been sifting through data and reports on growing household optimism in both NZ and Australia but the overhang of debt has not gone away.

A significant share buy-back scheme will be undertaken by one of New Zealand’s larger companies.