Employment: In 2017, the Trans Tasman Resources Ltd (TTRL) direct contribution to the regional level economy was estimated at 370 Full Time Employees (FTEs), $30m in GDP and around $6m in royalties.

This can be compared with oil and gas industry which directly employs 4,300 people and contributes $980m in GDP and $370m in royalties. 

Of those proposed 370 job positions for TTRL, 61 of the 370 will be based overseas.  TTRL estimates show only 228 will be employed directly in the Taranaki and Whanganui region.

TTRL did not clarify whether or not shift workers on the vessel would be located regionally or elsewhere.

Not all the jobs quoted would be new positions (some are existing positions and filled).

The positions created are predominantly specialised and require significant training and education. This reliance on a skilled workforce may exclude a substantial segment of the local population, limiting access to employment opportunities, and requiring that people move into the area to fill the roles rather than upskilling the existing population, into areas that have limited rental property options.  

Harm to Fishing Industry: The proposal poses a direct threat to the fishing industry, a vital economic sector for the coastal communities. Disruption of fish populations and habitats due to industrial activities could lead to reduced catches, impacting the livelihoods of fishermen and related businesses. The fishing industry has been a strong submitter against the proposal since its inception and have spent hundreds of thousands in the submission process to date opposing the application, including calling in experts for their input. 

Under the Fast-Track process this long term engagement by the fishing industry is side-stepped and these interests can be ignored. 

Sediment discharge from the sediment plume will affect hard rocky reefs systems in the area and the fish stocks that they support and therefore the fishing industry .

There would be moderate effects on primary production in the Pātea Shoals, and higher adverse effects in specific areas of the Pātea Shoals. Some of these areas are known nurseries.

Harm to Wind Farm Industry: In addition, the proposal poses a direct threat to existing proposals for further wind farming, which are attempting to increase job production in Taranaki/Whanganui. 

TTRL is a company 100% owned by an Australian firm. The vast majority of proceeds generated by this industry will not remain within the Aotearoa New Zealand economy, and public/crown proceeds are limited to 5% (which is around $6 million in royalties annually).

The majority of the heavy materials extracted will be exported to China to support the metal industry there. Therefore, there is expected to be little to no secondary industry created in Aotearoa New Zealand.  

Job creation (estimated by the project in 2017) is limited to around 310 jobs based in NZ, however most of these are highly skilled positions and it is unclear whether they will be able to be filled by locals or whether foreigners will relocate to NZ to fill the positions.

This is an extractive industry which also seeks to extract most of the wealth from the product to overseas investors. The Taranaki and Manawatū regions carry the greatest burden in terms of effects. 

Note that this economic evidence was produced in 2017.

TTRL have provided no updated material to the public since that time and have recently withdrawn statements where it claimed that the proposal would provide 1 billion dollars a year in proceeds.

TTRL have continually made exaggerated or misleading representations in the media about the benefits and consequences of the proposal.

Most recently, TTRL retracted its statements that it had made to the NZ government and to its investors that the proposal would generate a billion dollars a year, admitting that this assertion was not based on any reliable data.  

Furthermore, after engaging with the Taranaki and Manawatū community for over ten years and having that community spend time and money attending Environment Protection Authority hearings on the proposal, TTRL withdrew from this process altogether, without compensation to other parties. TTRL withdrew right before the final decision was made, thus avoiding a negative outcome for themselves.

TTRL have sought a consent through fast-track, a process by which they do not need to engage with the local community and only need to consider input from councils and iwi authorities.

Therefore, the divers’ and fishermen’s extensive knowledge which has informed decision makers in the past on where key reefs systems are, what marine life lives there, etc, are excluded from being considered.