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Trustpower is considering a new bond offer for the New Zealand market and it could be for an issue worth $25 million, with a significant over-subscription capacity.

The vital resource consents have been granted for the major Martha underground mine development at Waihi along with reopening of the Martha open cut, so the only likely challenge will come from the appeals period.

Gas supply and other issues have been responsible for higher power costs which have hurt some of the smaller fry in the energy business.

Fletcher Building will sell its large international Formica business for a significant amount more than it cost 11 years ago.

Includes following attachments:
- Media release. (91.4 kilobytes)

A senior official of the Reserve Bank of New Zealand will leave early next year to join an economic research institute.

Aorere Resources may be a penny stock but it sees value in its two prime investments.

Includes following attachments:
- Interim accounts. (248.6 kilobytes)
- Interim report. (602.3 kilobytes)

Napier Port has joined several of New Zealand’s other ports to report a strong financial year and lift in shipping volumes.

Vector Ltd has detailed the latest progress of its staff incentive share scheme which has operated since 2011.

The latest ANZ Monthly survey shows that business confidence was now in better shape than it was in the previous monthly survey.

Recent News

Gold News

Reporting by New Age Exploration this year gave an indication that its Otago gold quest was its lowest priority, but recent results and a potential sale of the company’s coal project in the UK has changed this.

The chief of OceanaGold told an international mining conference that it was important for a gold developer to take in country social and environmental issues in its mine planning.

Perth-based junior explorer Strategic Elements has indicated it is still awaiting clearances to undertake further work on the Golden Blocks project in New Zealand.

Australian junior explorer Laneway Resources still has ambitions for its prospects near Karangahake in New Zealand’s Hauraki Goldfield and has plans to drill a key target.

There were no surprises with the figures released by New Talisman Gold Mines in its September half year financials.

Oil & Gas News

An annual international survey of petroleum sector leaders has seen New Zealand plummet as a place in which to invest.

Mediation appears to have averted a potentially serious strike on fuel supply in New Zealand.

The Government said the ACC will now not impose a higher levy on motor vehicles with the growing public anger over increased fuel costs.

North American markets have heard that TAG Oil which quit New Zealand now sees its new exploration frontiers in the much more industry friendly Australia.

A new gas field has been discovered at the Paus Biru-1 exploration well offshore East Java in the Madura Strait, Indonesia.

Coal, Lignite & CSG/CBM News

A specialty nitrogen plant has arrived on site at the ruined Pike River colliery to help the planned re-entry into what is currently a methane-filled mine.

A report by a British coal mining expert has been incorporated in the latest detailed update report from the Pike River Recovery Agency.

Shareholders of Bathurst Resources saw the positive growth the company achieved after forging the BT Mining joint venture but they may be holding their breath awaiting the outcome of a court appeal.

Owners of the new coking coal mine near Westport will take their battle back to court after the legal and political blocks from anti-miners and the Green Party enclave in the current Government.

One of the key coal mines on the North Island has been given a life extension through a decision to develop a new resource.

Other Metals & Minerals News

Nautilus Minerals has taken up another loan from a finance company linked to its two key shareholders as it advances towards a seafloor massive sulphides deposit in Papua New Guinea waters.

The Australian company, controlled by New Zealand’s Todd family which has a multi-billion dollar quest to start an iron mine in Western Australia, now plans to delist from the Australian bourse.

There was an important ceremony at Tiwai Point yesterday for New Zealand Aluminium Smelter and the Southland region with the official re-opening of Potline 4 at the smelter.

Nautilus Minerals is in discussions with parties that may fund completion of the special production vessel for the Solwara-1 seabed mining project.

BlueScope Steel has been conducting presentations and investor visits to its various ASEAN operations to highlight its global reach in steelmaking and product marketing.

Renewable Energy News

A parliamentary committee was told yesterday by an energy company chief executive that hydrogen energy may be years away from being commercial and in the interim Huntly power station will remain an essential backup for renewable energy.

With a full takeover bid being just avoided Tilt Renewables has announced a share allotment right to senior staff.

NZ Windfarms which has undergone a year of significant changes is now to get a new director and a change at the top.

Despite all the rhetoric New Zealand may never be totally operating with renewable energy but there are greater and costly questions on going too far with renewables in Australia.

By the time the full takeover bid for Tilt Renewables had run its course, the bare knuckled result showed the two key shareholders failed to reach the 90% mark for a mandatory takeover.

Environment News

A total of 150 years ago to today a massive earthquake off South America saw a huge tsunami sweep across the Pacific, hitting New Zealand and causing fatalities on the Chatham Islands.

By switching to ground power instead of inbuilt aircraft supply while at NZ airports international Air New Zealand flights were generating big savings on jet fuel and also lowering the carbon footprint.

The faulting under Dunedin may be greater than originally thought but a new GNS Science led study is not ringing any alarm bells.

The top of the North Island had a nasty jolt with a 5.4 magnitude earthquake. Fortunately it was quite deep.

New Zealand scientists and a prominent university have joined forces to support food authentication requirements for developing nations

Education, Science & Technology News

A sophisticated new geohazard monitoring centre has been set up for GNS Science to enhance the requirement for a quick response.

Key old maps help scientists better define the location of the historic Pink Terraces and White Terraces.

Scientists have produced a new global map that shows where major earthquakes have occurred across the globe.

An organiser who lived through the Canterbury earthquakes has been appointed as new head of the Resilience Challenge Governance Group.

The Snares Islands off the South Island was again scene of a significant earthquake early yesterday afternoon.

Economics, Politics & Government News

Finance Minister Grant Robertson talked of compelling numbers in the December update for the Budget.

Since becoming Government, the Labour Party has been bedevilled by strike moves and wage claims but it has just avoided a public stain through an Air New Zealand strike being avoided.

A discussion paper on the vexing initiative of the Ardern Government to ban any mining on conservation land should be available early in the New Year.

There are kinks in the armour of the Coalition Government as it moves into the festive season and more questions are being raised about the cost of constant inquiries and new committees.

In recent times the Government’s worst enemies have been its ministers and Dene Mackenzie looks at the political carnage.

Other News

The September Energy quarter report put out by the MBIE showed there had been a growth in the use of renewables, higher fuel prices and some challenges on gas supply.

The Reserve Bank is progressing a review that may see banks in New Zealand needing to raise their level of capital.

One of the South Island ports has ordered a powerful new tug to cater for its expanding activity.

In keeping with an agreement with three other listed companies in which it retains a control block, the Government reached agreement with Mercury NZ to participate in any dividend reinvestment or share buyback plan, should it eventuate.

The mining division of Downer EDI has over the years provided many of the building blocks for growth. However, a South American company may be negotiating to buy this division.