A draft Minerals Strategy for New Zealand to 2040

Ministerial foreword

Developing our minerals sector is one of our country’s big opportunities. We can double the sector’s export value to $2 billion over 10 years.

Minerals are essential for our way of life and enable nearly every aspect of our modern world. They are at the heart of key sectors that drive New Zealand’s economy, including infrastructure, construction, agriculture, manufacturing, and IT.

Minerals are essential components in clean energy technology that power our businesses and homes. Some of our regions have been built on minerals development, and minerals developments are still the heart and fabric of many of our communities. The sector is now at the forefront of innovation.

Precision has replaced guesswork, enabled by cutting-edge technology.

The numbers don’t lie – the minerals sector is a small but mighty part of New Zealand’s productive output. The value of mineral exports in 2022 for our country was $1.03 billion. The sector creates job opportunities, supports local businesses, and generates substantial tax revenue that funds infrastructure, healthcare, and education.

We have barely scratched the surface when it comes to our potential. This strategy will put in place actions that will lead us on an export-led growth pathway to double the sector’s exports to $2 billion by 2035.

Currently, New Zealand’s production is limited to a handful of minerals and metals. Our vast mineral reserve – and the role it could play in transforming our future – remains largely unexplored.

Other countries use their minerals sectors as cornerstones of their economy to support the sustainability of their regions, to increase resilience, and to boost prosperity. At this moment in time there is also another driver at play - the global clean energy transition.

The International Energy Agency estimates that to reach net-zero emissions by 2050, the world will need 6 times more minerals for low emissions technology than are currently being extracted. Production of electric vehicles, batteries, wind turbines and solar panels are already driving significant minerals demand. This will only increase.

Our geology means we have a varied mineral endowment, which has been verified by a number of studies. There is significant potential in the reserves of these minerals for industry and a clean energy transition.

We have a choice to make – do we contribute to and benefit from this growing market, or do we become the recipients of other countries economic effort and output?

I want New Zealand to be part of the solution. I want to us to contribute to secure, resilient, and sustainable global minerals supply chains We can do it on our terms, using modern technology with a light touch on the environment and high employment standards. The environmental impacts of mining can and will be managed to the highest standard.

We are taking an active, deliberate and coordinated approach for the resources sector that will take us from 'open for business' to 'doing business'. This strategy will inform business investment and the Government’s regulatory system.

Ultimately, we want to build the foundations of an enduring minerals sector that enhances prosperity for New Zealanders, demonstrates its value, and delivers minerals for industry and a clean energy transition.

Your input is critical to this discussion on the future of our minerals sector.

Please provide feedback on the draft strategy to resourcesfeedback@mbie.govt.nz by 5pm on 31 July 2024.

Hon Shane Jones,
Minister for Resources