Manuka Resources is an Australian-owned mining company listed on the Australian Stock Exchange, with offices based in Sydney. They have interests in gold and silver mining in Australia. They are also the sole owners of Trans-Tasman Resources, a company that is trying to mine the seabed off the coast of Taranaki in New Zealand.
What is Trans-Tasman Resources trying to do?
For the past 10 years, Trans-Tasman Resources has been trying – and failing – to get approval to mine the seabed in the South Taranaki Bight. If approved, it would be the first project of its kind in the world: an underwater open-cast mine dredging up 50 million tonnes of iron sand every year for 35 years.
Trans-Tasman Resources, also known as TTR, has faced enormous opposition to its seabed mining plan, including from mana whenua like Ngāti Ruanui, the wider local community and environmental groups like Kiwis Against Seabed Mining and Greenpeace.
The courts and environmental authorities have rejected TTR’s plans many times. So earlier this year, Manuka Resources and TTR announced it would try to use the Luxon Government’s controversial Fast Track Approvals process.
So how does Manuka Resources fit into all this again?
Manuka Resources purchased Trans-Tasman Resources in 2022. Manuka Resources is often referred to as the “parent company” of TTR, and sometimes Trans-Tasman Resources is referred to as a “wholly-owned subsidiary” because it is 100% owned by Manaka Resources.
In media stories, both companies will often be referred to when talking about the proposed seabed mining project in Taranaki.
Who is Alan Eggers?
Alan Eggers is the Director of Trans-Tasman Resources. After TTR was acquired by Manuka Resources in 2022, Alan Eggers joined the board of Manuka Resources, where he is now Executive Director.
What do Manuka Resources and Trans-Tasman Resources want?
Manuka Resources and Trans-Tasman Resources are trying to mine iron sand from the seabed off the coast of Patea, a town in South Taranaki.
It would then extract vanadium, which would be exported to China and used for industrial applications.
Tens of millions of tons of leftover sand would be dumped back into the ocean, creating a sediment plume that could harm marine creatures such as Pygmy Blue Whales, Kororā (little blue penguins), Hector’s Dolphins and Māui dolphins.
Why have Manuka Resources been in the NZ news recently?
Manuka Resources had to backtrack on claims that the proposed Taranaki project would contribute a billion dollars a year to New Zealand’s exports. This included a formal retraction to the Australian Stock Exchange.
There was also controversy after Manuka Resources announced to shareholders that it had been “invited” to apply for fast-track approval, with Infrastructure Minister Chris Bishop calling this claim misleading. In fact, Manuka Resources had received a standard letter also sent to 200 other organisations.
The proposed plan to mine the seabed off the coast of Taranaki continues to be met with resistance from mana whenua like Ngāti Ruanui, environmental groups and the local community, as seen in this recent protest.
Seabed mining is a new threat to the oceans. Now is our chance to prevent the destruction before it’s too late.
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