Taranaki Iron Sands Mining Project Could Boost NZ Economy by $265 million

A report by the New Zealand Institute of Economic Research suggests that Trans-Tasman Resources Limited (NZX: TTR)'s proposed Taranaki iron sands mining project could contribute $265 million annually to New Zealand’s GDP and generate 1,365 jobs nationwide.

The project aims to extract iron sands enriched with vanadium and titanium from seabeds 22km to 36km off the South Taranaki coast, in waters between 20m and 50m deep. However, iwi and environmental groups strongly oppose the plan, citing concerns over its potential ecological impact. Despite opposition, the economic benefits projected by the study highlight significant potential for job creation and economic growth. Whether the project proceeds will depend on regulatory approvals and the resolution of environmental concerns.

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