Overseas investment decision for case 201220081 - Oceana Gold (New Zealand) Limited | Toitū Te Whenua

Decision	Consent granted Section 12(a) Overseas Investment Act 2005
Decision date	28 March 2013
Investment	An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 1,624.0521 hectares of land at Matheson Road, Hyde, Otago.
Consideration	$6,870,000
Applicant	Oceana Gold (New Zealand) Limited Australian Public (93.1%) New Zealand Public (5.79%) Various, Various (1.11%)
Vendor	Coral Joy Peddie and Coral Joy Peddie, Roger Norman Macassey and Andrew John Anderson as Executors New Zealand (100%)
Background	The Applicant is acquiring the land for use in its gold mining operations. The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'substantial and identifiable benefit to New Zealand' criteria were satisfied by particular reference to the following factors: Overseas Investment Act 2005 17(2)(a)(i) –Retention of jobs 17(2)(a)(iii) – Increased export receipts 17(2)(a)(iv) – Greater efficiency 17(2)(a)(vi) – Increased processing of primary products 17(2)(d) – Historic Heritage Overseas Investment Regulations 2005 28(a) – Consequential Benefits 28(e) – Previous investments 28(g) – Enhance the viability of other investments 28(i) – Economic Interests 28(j) – Mitigating Factor
More information	Lesley Brook Anderson Lloyd Private Bag 1959 DUNEDIN 9054