Santana Minerals (ASX:SMI, NZE:SMI) may benefit from New Zealand's policy shift that recently saw a faster approval process for OceanaGold's Waihi North project, according to a Thursday Euroz Hartleys note.

Develop Global said on Friday that it received a AU$200 million, five-year contract to build underground access tunnels for Waihi North in New Zealand, with work set to start in the first half of 2026.

Euroz Hartleys said that such a deal would have taken a mining company five years to permit under the previous legislation, but has taken just 112 days under the new fast-track legislation.

Changes in sentiment are expected around permitting in New Zealand on the back of the OceanaGold mining consent decision, which will translate into interest in SMI, the note added.

Euroz Hartleys maintained its speculative buy rating on SMI and increased its price target to AU$1.75 from AU$1.69.

The company's shares rose 6% in recent Monday trade.