| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 14 October 2010 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 59.7800 hectares of land at State Highway 65, Springs Junction. |
| Consideration | $360,000 |
| Applicant | R K Murdoch Pty Limited Stephen Robert Murdoch, Australia (50.0%) Robert Francis Murdoch, Australia (33.335%) Jennifer Kay Murdoch, Australia (16.665%) |
| Vendor | Keita Valley Limited Dean Gidall, New Zealand (33.3334%) Sally Gidall, New Zealand (33.3333%) Ronald Harding, New Zealand (33.3333%) |
| Background | The owners of the Applicant are already involved in the mining and crushing of lime in Australia. The rationale for the investment is that there is a growing market for crushed lime in New Zealand in the mining and agricultural sectors. The land contains a disused lime quarry. The Applicant plans to reopen the quarry and a crushing and grinding circuit will be constructed by the Applicant over the next five years as the mine is developed. The mine will then produce fine lime for use in agriculture and in controlling acid water in mining. 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 |
| More information | Roger Simes Purnell Creighton PO Box 13376 Christchurch 8141 |