Resources Minister Shane Jones announced that Matakanui Gold Limited, a subsidiary of Santana Minerals, has been granted a 30-year mining permit for the Rise and Shine prospect – part of the Bendigo-Ophir Gold Project in the Dunstan Mountains of Central Otago.
Jones described the decision as a multibillion-dollar opportunity for the region, saying the project would create 357 direct jobs and a further 500 through indirect employment, with average salaries expected to reach $140,300 – more than double the current Central Otago average.
“The Crown stands to collect hundreds of millions in royalties over the first 14 years of operation, plus an estimated $800 million in tax revenue,” Jones said. “This is a major milestone that will bring well-paid work, training opportunities, and economic resilience to Central Otago while helping fund our future healthcare, education, and infrastructure needs.”
The operation will begin as an opencast mine before shifting underground, providing specialised training for the next generation of miners. As a listed project under the Fast-Track Approvals Act 2024, Matakanui Gold can now pursue an expedited consent process to commence mining.
Jones also welcomed fresh investment news from Endura Mining – formerly Federation Mining – which has secured NZ$172 million to advance the Snowy River Gold Mine on the West Coast. He noted that a $15 million Provincial Growth Fund loan in 2019 had helped kickstart the project, now backed by institutional investors including AustralianSuper and Orion Resource Partners.
“With this level of international confidence and domestic commitment, New Zealand is taking its rightful place at the forefront of new mining investment,” Jones said.
This article was originally published by the Daily Telegraph New Zealand.
