Closing submissions on a company's controversial application to 65 sq km of seabed off the South Taranaki coast are drawing to a close this week, following a lengthy round of hearings.
Submitters including iwi, fishing companies, Government departments and environmental and recreational groups have raised their concerns about Trans-Tasman Resources bid, which is being called a "test case" that could open the door to future iron sand mining ventures in New Zealand.
The company, proposes to extract up to 50 million tonnes of sediment per year and process it aboard an integrated mining vessel, with around five million tonnes of iron ore concentrate to be exported per year.
TTR, which has spent more than $50 million on the project, estimates that the project would generate an extra $147 million in exports for New Zealand if it is granted a marine resource consent under new regulations governing the EEZ.
It was recently awarded a mining permit for the operation by the New Zealand Petroleum & Minerals arm of the Ministry of Business, Innovation and Employment.