New figures show the Crown collected nearly a quarter of a billion dollars in mining revenue last year, with resources Minister Shane Jones crediting the sector's growth.
Resources Minister Shane Jones has welcomed new statistics showing a significant increase in mining activity across New Zealand. According to figures released by the Ministry of Business, Innovation and Employment, the Crown collected $242 million in royalties from petroleum and gold in the 2023/24 financial year.
The data also highlights a 17.9 percent increase in aggregate production over 2022, with significant growth in rock, sand, and gravel mining for road construction. This is seen as crucial for addressing New Zealand's infrastructure shortfall.
Mr Jones says the sector continues to deliver for New Zealanders by driving regional economic activity and contributing royalties that fund essential services such as transport and healthcare.
The Coalition Government has introduced legislation to reverse the ban on petroleum exploration, developed a draft Minerals Strategy, and commissioned a report to attract investment in the sector. Mr Jones is committed to utilizing New Zealand's minerals to boost regional opportunities and drive export-led growth.
With these initiatives in place, Minister Jones looks forward to watching mining revenue continue to grow in coming years.