Manuka Resources Unit Says Expert Panel Proposes to Decline New Zealand Project

MT Newswires Live

02/09

Manuka Resources' (ASX:MKR, NZE:MKR) TransTasman Resources unit said an expert panel appointed under the New Zealand Fast-Track Approvals Act 2024 issued a proposed draft decision declining consent for its Taranaki VTM project to harvest iron sands off the Taranaki coast in New Zealand, according to a Monday filing with the Australian and New Zealand bourses.

TransTasman Resources will review the draft decision and has until Feb. 19 to comment on it, the filing added.

The company's Australian shares rose nearly 6% in recent Monday trade, while its New Zealand shares tumbled almost 32%.

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