WELLINGTON, Aug. 29 (Xinhua) -- A new report on the growth of New Zealand's resources sector has identified new prospects for the country's mineral development.
The report brings together extensive research, geological, geochemical, and geophysical studies, as well as mapping of geography and mineral deposits.
"Hard-rock gold and offshore titanomagnetite iron sand rank highly on the list of short-term opportunities, but heavy mineral sands with ilmenite and co-products and byproducts of rare earth elements, and silica gravels are also commodities close to development in New Zealand," Resources Minister Shane Jones said on Wednesday.
Most of New Zealand's current mineral production is in gold, iron sands and coal, according to the report by GNS Science as part of the draft Minerals Strategy for New Zealand.
Longer term, the exploration potential expands to placer gold, non-metallic minerals such as high-grade limestone and perlite, antimony as a byproduct of gold mining, copper, platinum group metals, tungsten and offshore seafloor ferromanganese nodules, the report said.
It also found phosphate, glauconite and sulfur, which are all used in fertilizers, could be developed locally for New Zealand to increase self-sufficiency in raw minerals valuable to the economy.
The report will be used to inform policy advice and help with decision-making, and will serve as a key tool in attracting explorers and investors, Jones said. ■
