Ruapehu Alpine Lifts (RAL) has been granted a new licence to operate Mt Ruapehu's Tūroa, New Zealand's second largest ski area, securing the long term future of the company.
The licence has an initial term of 25 years plus seven five-year extensions totalling 60 years and brings certainty to plans the company has for $100 million of investment in new facilities.
"We're absolutely thrilled to reach this historic agreement together with Ngāti Rangi, Uenuku and the Department of Conservation," said Ruapehu Alpine Lifts chief executive Ross Copland.
"With less than five years to run on the existing licence, it was essential that we reached this agreement to allow us to invest, ensuring that Tūroa continues to anchor the winter economy of Ohakune and the wider Ruapehu region."
Both Whakapapa and Tūroa Ski Areas on Mt Ruapehu are operated by RAL, which also owns the assets of the two ski areas.