Newmont Waihi Gold Property Policy Progress Statement

Press Release - 14 December, 2011.

The Mayor of Hauraki District Council, John Tregidga, stated today that he was pleased that Newmont Waihi Gold was preparing a policy on affects on property as a result of the announcement of the Correnso and Martha Underground Exploration projects but was disappointed that it will not be finalised and released until February, 2012.

He indicated that with the announcements made by Newmont in October, 2011 there were already affects on property owners, particularly those who had their houses on the market or were planning to sell in the near future and that the position for property owners and tenants was exacerbated by the extent of the effects being unknown at this stage.

However, he further stated that the progress report released by Newmont Waihi Gold on Tuesday 13 December did give a strong indication on what the Company was considering for inclusion and this would allow the Council and the community/community groups to make further submissions to Newmont prior to the policy being finalised.

“There are some exciting aspects in the property policy proposals announced including independent bodies to review proposals, property value top ups, a simplification of the existing amenity protection programme (AEP) and the possible establishment of a green fund and a community improvement fund. However, the policy directions announced will not meet all the expectations that the community had identified in the various proposals as being desirable” he said.

The Mayor noted that the direction signaled by Newmont was significant because it recognises that underground mining below built up areas does affect property values and acknowledges the need for affected land owners to be treated fairly and equitably by the Mining Company with practical and workable processes.

The Mayor explained that following the Council’s public meeting held on 3 November to discuss community concerns around the proposed Correnso and Martha Exploration projects the Council had taken on board the community’s desire for Council to work with the community groups in formulating a coordinated approach to Newmont on a property policy.

The Council has subsequently met with the community groups that made submissions to Newmont following its announcement that it would be developing a property policy and has commissioned an independent review of the five community group submissions to work towards the coordinated approach requested.

The release of the Newmont property policy considerations by Newmont will be reviewed as part of that project and will assist the Council and community to respond to the proposals.


L D Cavers
Chief Executive

For further information please contact Langley Cavers on 07-862-8609 or e-mail Langley@hauraki-dc.govt.nz