Mr. Chris Castle reports

CRP INVITED TO APPLY FOR FAST TRACKING PROCESS FOR THE CHATHAM RISE PHOSPHATE PROJECT

Chatham Rock Phosphate Ltd. has been requested by the New Zealand government to make an application for the Chatham Rise rock phosphate project to be considered as a listed project in the fast-track consenting bill to be put to parliament.

After being introduced to the New Zealand parliament on March 7, 2024, the fast-track approvals bill is now being considered by the environment select committee.

This new regime, which forms part of National's coalition agreement with New Zealand First, will improve the speed and process for resource approvals for major infrastructure projects, unlocking opportunities in industries such as aquaculture and mining in the company's regions.

The proposed new permitting regime is potentially a game changer for resource projects and others considered to be of national significance in New Zealand.

If the Chatham Rise project is included in the list, the company would anticipate that the permitting process would not only be quicker but could involve reduced costs and would likely have a more certain outcome.

The application for the Chatham Rise project to be included on the list is under preparation and will be submitted well before the May 3, 2024, deadline.