| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 11 December 2013 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 51.1876 hectares of land at Mount Rochfort Road, Buller District. |
| Consideration | $1,240,000 |
| Applicant | Bathurst Resources (New Zealand) Limited Australian Public (86.06%) New Zealand Public (13.94%) |
| Vendor | Cranberries New Zealand Limited Development West Coast, New Zealand (100%) |
| Background | Bathurst Resources (New Zealand) Limited (“Bathurst”) is developing a large coal mine on the Denniston Plateau near Westport known as the Buller Project. The land is currently a cranberry farm. Bathurst intends to use the land and existing facilities as a nursery for the propagation and rearing of young native trees and plants that will ultimately be used for re-vegetation on mined areas on the Denniston Plateau. 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 Regulations 2005 |
| More information | Brigid McArthur Greenwood Roche Chisnall PO Box 25501 WELLINGTON 6146 |