New Zealand Seeks a Stronger Position in the Mineral Sector

by | 31. Jan 2025 - 10:54 | Politics

The island nation has released a national minerals strategy and a list of 37 resources considered critical to its economic prosperity.

New Zealand aims to leverage its mineral wealth better, targeting a doubling of sector exports to nearly $1.7 billion by 2035. This goal is outlined in the country’s first national minerals strategy, released on Friday. Alongside it, the island nation published a list of 37 critical minerals deemed essential for the domestic economy and technology sector.

The strategy aims to expand the extraction, processing, and recycling of these resources to meet domestic demand better and reduce reliance on imports. Additionally, in response to rising global demand and market volatility, New Zealand seeks to establish itself as a “reliable and trustworthy” partner, said Resources Minister Shane Jones.

Currently, gold and metallurgical coal account for 80% of the country’s mineral exports. While these will be expanded, New Zealand also plans to significantly boost the production of critical minerals essential for the energy transition. Several related projects are already underway.

Potential for Rare Earths, Platinum, Cobalt, and Many Other Resources

Of the 37 critical minerals on the list, ten are already being produced—albeit in some cases in very small quantities—including aluminum, titanium, and rare earths, according to the document (PDF). Another eleven, such as antimony, cobalt, tungsten, and platinum group metals, show potential for future extraction. However, for the remaining 16 minerals, including gallium, germanium, indium, and nickel, no known deposits exist, meaning New Zealand will likely remain dependent on imports.

Due to its “dynamic tectonic history,” the island nation holds significant mineral resource potential, Minister Shane Jones said last year when announcing the strategy. However, he noted that both the economic viability and domestic demand for these resources need to be better understood. At the time, he also highlighted obstacles such as lengthy permitting processes and public opposition that hinder the growth of the mining sector.

The strategy now aims to improve the industry’s image, with a focus on high standards in environmental protection, workplace safety, and respecting the rights of Indigenous communities.

Photo: Wirestock, beyhanyazar via Canva