Mr. Chris Castle reports

CRP APPLIES FOR THE CHATHAM RISE PHOSPHATE PROJECT TO BE INCLUDED IN THE FAST TRACK PERMITTING PROCESS

Chatham Rock Phosphate Ltd. has made an application for the Chatham Rise rock phosphate project to be considered as a listed project in the Fast-Track Consenting Bill.

After being introduced to the New Zealand Parliament on March 7, 2024, the Fast-Track Approvals Bill is being considered by the environment select committee.

This new regime, which forms part of the New Zealand government's national coalition agreement with New Zealand First and the ACT Party, is intended to 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 New Zealand resource projects and others considered to be of national significance.

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.