NZX Announcement: Media Release - CRP welcomes EPA clarification on status of staff report

Dear Chatham Rock Phosphate shareholder or stakeholder,

This announcement has just been filed with NZX. I note that at the time of writing this the market value of the company has fallen by 60% since the EPA made their release yesterday.  

Regards, 

Chris Castle

Chief Executive Officer

Chatham Rock Phosphate Limited

Email: chris@crpl.co.nz

Cell: +64 21 558 185

Skype: phosphateking

www.rockphosphate.co.nz

 

Media Release

19 August  2014 

CRP welcomes EPA clarification on status of staff report

Chatham Rock Phosphate today welcomed a clarification issued by the Environmental Protection Authority regarding its staff report issued yesterday.

The EPA in its announcement today said the process for considering the application was still at an early stage.  “Further information on the application and its effects is to come from both the applicant, and in the form of evidence and submissions from other parties. Our assessment of that information has the potential to alter the recommendations made in our current Staff Report,” EPA General Manager of Applications and Assessment Sarah Gardner said.

She went on to say the staff report was not the decision on the application and the Decision-making Committee appointed by the EPA Board to hear and decide the application may make a different decision to that recommended by EPA staff.

Managing director Chris Castle reiterated yesterday’s comment that the staff report was premature and would have had more value had the information requested by the EPA been provided and taken into account.  Having said that, Mr Castle acknowledged that CRP is in a statutory process and it imposes pressures on everyone involved, including the EPA.

Mr Castle said CRP was in the process of completing evidence and providing responses to 62 questions – some of which required detailed consideration and further research. 

He noted the staff report was a snapshot, based on the information available at the time.  The cut-off for the information was 1 August and so it did not include considerable information that has since been supplied and was continuing to be gathered.

“Based on the information we are amassing, and the evidence that is near completion, we remain confident we can provide a compelling case for the grant of a Marine Consent later this year. We also note the EPA’s comment that the staff are not the decision makers – the Decision Making Committee is.

“We believe we have provided and will provide the necessary information to address all of the issues raised in the report, and that the Decision Making Committee will have the evidence it requires to enable a Marine Consent to be granted.”

Mr Castle said CRP remained confident the company has done the work to show it can undertake its mining operations in a sustainable way, and the Marine Consent process would demonstrate this.

The EPA media release follows:

EPA issues preliminary report on Chatham Rock Phosphate application

The Environmental Protection Authority has issued a preliminary report on the marine consent application by Chatham Rock Phosphate Ltd (CRP) for its phosphate mining project on the Chatham Rise.

The report, which is an input into the decision-making process for determining the application, evaluates the information that CRP has provided to the EPA as at 7 August 2014.

It provides the EPA’s staff view on the potential adverse effects of the proposed mining operations and discusses the matters which should be addressed by the Decision-making Committee when making its decision on the application.

EPA General Manager of Applications and Assessment Sarah Gardner said it was important to note that the process for considering the application was still at an early stage.

“Further information on the application and its effects is to come from both the applicant, and in the form of evidence and submissions from other parties. Our assessment of that information has the potential to alter the recommendations made in our current Staff Report.” 

Mrs Gardner said that on the face of the application at this time, and without all of the information requested of CRP yet being available, the EPA was currently unable to recommend that the application be granted.

“However, this is not the decision on the application and the Decision-making Committee appointed by the EPA Board to hear and decide the application may make a different decision to that recommended by EPA staff.”

The hearing on the CRP application by the Decision-making Committee is scheduled to start on 25 September with a decision due around 18 December 2014.

Background notes: On 10 July, the Hearing Procedures issued by the Decision-making Committee stated the Staff Report would be released on 4 August. Following a request from CRP the EPA agreed to delay the release of the report to 18 August. The EPA advised all parties on 11 August that it would be released on 18 August. 

Contact Chris Castle on +64 21 55 81 85 or chris@crpl.co.nz

NZX Announcement: Media Release - EPA staff report premature

Media Release

18 August  2014

EPA staff report premature

The Environmental Protection Authority staff report issued today is premature and should have not have been issued until the information requested of Chatham Rock Phosphate was provided, managing director Chris Castle said today.

“In order to be a fair and balanced report, it should have taken account of information we either recently provided or is still yet to be prepared.”

Mr Castle said CRP would never expect a report at this stage in the process to recommend approval.  “Otherwise what is the point of all of the additional information, the caucusing of expert witnesses, and the weeks of hearings that are still ahead. 

“Of course there are uncertainties.  That’s what this whole Marine Consent process is designed to identify and clarify, and it is important to remember that the decision will be made by an independent committee rather than EPA staff.”

Mr Castle said the key sentence in the report is: “EPA staff are not currently able to recommend granting this marine consent on the face of CRP's application as it stands, but recognises that there is more information to be provided, which may change our view."

“I should hope so – otherwise the value of a hearing process is undermined.

“However I do think it was unnecessary for the staff report to come out prior to us completing the additional information that was requested.  I understand the report should not be too late in the process (as it was with Trans-Tasman Resources) but I think in this case it was too early.

“My other key concern is the EPA issued the report without any reference to us, in the middle of a business day.  We are a Stock Exchange listed company and need to ensure our investors are continually informed.  We had expected that the EPA understood the issues that would be caused by their releasing a huge swathe of information without us having the opportunity to assess the information and advise our shareholders.

“While the EEZ Act contains a prescribed process for dealing with Marine Consent applications,  the EPA should be more careful to consider the commercial position of applicants when it follows those processes.

“We remain confident we have done the work to show we can undertake our mining operations in a sustainable way, and we believe the Marine Consent process will demonstrate this.

“I’d prefer to see a process that actually identifies how we can undertake seabed mining, rather than say why we shouldn’t, which I believe fits with the purpose of the EEZ legislation – that is to provide a way of enabling sustainable development.”

Contact Chris Castle on +64 21 55 81 85 or chris@crpl.co.nz

Chatham issues August operations update

Update

August 2014

We’re well on the way

It’s been a hugely busy time at Chatham Rock Phosphate HQ with the team working in a wide variety of areas.

You may be aware we operate as a virtual team with only three people actually spending much time at the Straterra office on the Terrace.    The rest of the team works either for other organisations and provide input as we need it, or they work remotely from other parts of the country and the world.

Email and phone are our lifelines.  We’re in daily contact with up to 50 people around the world on any day, we’re in weekly phone contact with our technical partner Boskalis in Holland and we’re continuing to share progress with everyone from investors and media to government agencies and other stakeholders.

Marine Consent

Since our marine consent application was accepted as complete at the end of May we’ve been in a flurry of activity.  The first step was receiving the first of a myriad of enquiries from the EPA to provide further information or explanation to the hefty 450-page application and its accompanying 35 reports.  Sometimes it has involved clarifying something and other times it’s required us to do more work.

As we’ve worked with submitters who have raised questions or potential concerns we’ve also sought more information from scientists or other experts.  Since early June the EPA has come back with two more lots of questions we’re busy working on.

In the two months since the application was lodged we’ve had submissions from nearly 300 groups and individuals, of which about a third were in favour, and two thirds not.  We were absolutely delighted at the high proportion of support – with these kinds of applications you almost always only hear from the people who don’t like something, rather than those who do.

Significantly the Crown chose to make a detailed (neutral) submission with a very can-do approach – i.e. it suggested ways of overcoming concerns, rather than simply why we shouldn’t do it, just because it hasn’t been done before.

The hearings are due to run mostly over September-October and will be held primarily in Wellington, with sessions also on Chatham Island and in Hamilton, to make it easier for those submitters who asked to be heard.

Marketing

While most of our work is focused on the consent process, there’s a lot of other activity too.

We’ve been thinking ahead to when we are actually in production.  A lot of work has already been done on potential markets and we’ve identified at least six countries in Asia that would use our product for four different uses.

Managing that work is our Vice President Sales and Strategy Najib Moutia, a Canadian-based Moroccan who for 30 years worked for the world’s biggest phosphate producer in his home country, building its Asia Pacific business from 0 to 90% market share.

As part of building those potential customers – and to provide some (positive!) cash flow before we get into production, we’re looking at undertaking some phosphate trading.  We’re also testing some rock from companies with whom we are building alliances and considering the best uses for those products.

While any trading will be done at the wholesale end – and we see that as our primary market – we are not ignoring the possibility of moving up the value chain.

We know there are hugely greater potential returns in selling small bags of organic direct application phosphate rock from garden centres and DIY stores.  So we’re researching what is currently sold and what the potential might be, starting with New Zealand, but also potentially overseas.

We’ve employed a market researcher to talk to the people in the industry on a fact-finding mission.  The results so far are fascinating.  We’re only at the start of a long process in building our business plan. However we do think there is huge potential for a natural New Zealand product, especially given the rising concerns about the current mix of chemical fertilisers on offer.

Boskalis

The relationship with our technical partner Boskalis continues to be a fantastic asset for CRP.  Its 100-plus years of experience in the marine dredging industry and its wealth of expertise in a wide range of areas including engineering and hydronamics are invaluable.  Boskalis works in 75 countries around the world and environmental and existing user concerns are always the primary focus.  The company has countless examples of how it has designed a way of doing something to anticipate a potential concern – it is simply the way it does business.

Three senior managers including project sponsor and senior executive Ko de Blaeij are coming to New Zealand to give evidence at the marine consent hearings.  Ko stepped down from the CRP board recently but remains very involved in the project and will lead our expert panel which guides us through strategic decisions that have a technical focus.

We really value the energy, expertise and continuing support we receive from Boskalis.

We expect to make considerable progress on these and other aspects of our business and will be in touch with more, regular updates.

 

Chris Castle, Managing Director

chris@crpl.co.nz or +64 (0) 21 55 81 85

NZX Announcement: Chatham Rock Phosphate targets AIM listing after marine consent

Dear Chatham Rock Phosphate shareholder or stakeholder,

This announcement was filed on NZX overnight and will be released before the market opens today.

Regards,

 

Chris Castle

Chief Executive Officer

Chatham Rock Phosphate Limited

Email: chris@crpl.co.nz

Cell: +64 21 558 185

Skype: phosphateking

www.rockphosphate.co.nz

 

Media Release

Chatham Rock Phosphate targets AIM listing after marine consent

11 August 2014

Chatham Rock Phosphate will target an AIM listing on the London alternative stock exchange following receipt of its Marine Consent approval, currently expected at the end of November.

The company has been investigating a capital raising and listing over the past few months.

“The directors have decided it is preferable, in terms of restricting dilution and enhancing shareholder value, to have an Initial Public Offering in London after we receive the marine consent,” managing director Chris Castle said.

“As a result sufficient funds are being raised to meet the company’s needs for the next few months.”

Existing shareholders will have the opportunity to participate at the same price as private placements being made.

 

Chris Castle 021 55 81 85 or chris@crpl.co.nz

Please note Chris is currently in London.

NZX Announcement: Chatham reduces marine consent area and provides update on Marine Consent Process

Dear Chatham Rock Phosphate shareholder or stakeholder.

This announcement has just been filed with NZX and will be released before the market opens in New Zealand.

Regards,

Chris Castle

Chief Executive Officer

Chatham Rock Phosphate Limited

Email: chris@crpl.co.nz

Cell: +64 21 558 185

Skype: phosphateking

www.rockphosphate.co.nz

 

Media Release

Reduction in Marine Application Area and Update on Marine Consent Process

5 August 2014

Chatham Rock Phosphate (CRP or the Company) announces that it has advised the Environmental Protection Authority that it will remove the eastern end of application area covered by prospecting permit 55967, comprising 4,985 km2 and representing about half the total, so the area for which marine consent is being applied now totals 5,207 km2.

“Reducing the size of the Company’s application area will have no impact on CRP’s mining plans for the first 15 years, which is covered by its approved mining permit and is subject only to a marine consent,” Managing Director Chris Castle said.

“It just removes areas covered by a prospecting permit application. However, it will simplify questions from the EPA and submitters because it means no seabed mining is being proposed by CRP on this part of the Chatham Rise.  The Company will only consider mining in that area once more assessment has been carried out.”

CRP is currently finalising its responses to the requests by the decision making committee (DMC) for further information.  These requests, dated 9 June, 17 and 25 July and which are a normal part of the process, are wide ranging and some have required CRP to commission new research and reports. In order to incorporate this new information as well as the impact of the reduction in application area, CRP has been granted an extension to the timetable for its responses to the EPA, which were due to be submitted this week, and now has until 25 August to submit its evidence.

The scope of the questions includes more detail on the benefits of the project to New Zealand and the Chatham Islands, commercial viability, effects on commercial fishing, migrating eels, benthic fauna, fish spawning, sediment chemistry and trophic modelling, toxicity thresholds, trace elements, habitats and seabirds, noise, ocean currents and phosphate prices.

CRP says the changes will not impact on the expected end date of the decision-making timeframe or its proposed mining plan.

“We do not believe the additional time involved in preparing responses and evidence will impact on the decision-making timeframes. Our advice is that a decision on the application is still manageable by the end of November.”

Mr Castle said the CRP team is focused on providing accurate and considered information in response to the requests from the decision-making committee (DMC).

“We think taking the extra time now is really positive because it helps clarify questions at an earlier stage and will enable more efficient use of time later in the process. A stitch in time saves nine, as they say.”

“CRP wants to ensure the final package available to the DMC and submitters contains the most up-to-date information before the process advances.  We also want to make sure everyone understands the scope of the application area so this can be addressed in evidence and answers to the information requests.  

“We think this approach will benefit all parties.  It’s consistent with the interests of the community in being able to achieve an adequate assessment of potential effects of CRP's proposal.

“Also importantly we think the additional time invested now in providing more detailed information and greater clarity about the application area will ultimately allow both the pre-hearing preparation process and the hearing itself to be conducted as efficiently as possible. 

“In that respect, we expect the additional time taken now will require reduced hearing time, particularly as only 75 of those who made submissions wish to be heard, compared with 2,175 in respect of Trans Tasman Resources.”

CRP has also asked for the time extension will also apply to the EPA's staff report, which the DMC is currently considering. 

“We think the EPA's report will offer greater assistance to the DMC once it takes into account the responses provided to the requests for further information.”

 

Please note Chris Castle is currently in London.  For further information contact him on email chris@crpl.co.nz or mobile +64 21 558 185 

NZX Announcement: CRP Marine Consent application submissions close

Dear Chatham Rock Phosphate shareholder or stakeholder,

This announcement has just been filed with NZX and will be released before the market opens on Monday.

Regards,

 

Chris Castle

Chief Executive Officer

Chatham Rock Phosphate Limited

Email: chris@crpl.co.nz

Cell: +64 21 558 185

Skype: phosphateking

www.rockphosphate.co.nz

 

Media Release

12 July  2014

CRP Marine Consent application submissions close

Chatham Rock Phosphate Managing Director Chris Castle is delighted at the quality and number of submissions in support of its Marine Consent application to the Environmental Protection Authority to extract phosphate nodules from the seabed on the Chatham Rise at the rate of 30 sq km a year.

 While a final analysis of the submissions will not be available until early next week CRP understands around 240 submissions have been received with a healthy proportion of these in favour of the application. In contrast, 4,702 submissions were received in respect of the recent Trans-Tasman Resources application, with 99.5% opposing the proposal.

 A preliminary analysis of the Chatham Rock Phosphate submissions reveals many applications from those with relevant expertise and/or with substantive arguments in favour of the Chatham Rise proposal.

 Further, only a few dozen submitters wish to be heard at the hearing, in contrast with the 2,175 submitters that wished to be heard at the TTR hearings.

 “This lack of large numbers opposing our project implies a significantly higher level of community support. An additional benefit is the hearings will be much less burdened with repetitive, in-expert opinions and can more easily and effectively proceed with a more informed decision making process.  

 “We’ve had a great response from people and organisations who support our application because they recognise the environmental and economic benefits of the project. This includes eminent international scientists who have submitted because they think the merits of this project are so impressive. Their strong message is the comparatively minor environmental impacts can be managed and the potential benefits are simply too big to ignore.

 “While we have yet to study the submissions in detail, we are disappointed by some of the inaccurate claims made by some opponents to our application.  We welcome debate on our proposal but expect it to be based on facts. For example, some of the claims in the information KASM posted on its website for people to use for their pro-forma submissions are simply not true and do not reflect our proposed mining operations.”

 CRP’s Marine Consent application to the EPA, filed in May, is working through a formal process to deliver a decision in November. The application, representing four years’ work and $27 million in investment, is the second under the Exclusive Economic Zone and Continental Shelf (Environmental Effects) Act, and will be considered in a full public process by an expert panel appointed by the EPA.  The Marine Consent is the only major licence CRP now needs, having gained a mining permit for its phosphate extraction project in December. 

 Mr Castle said he remains confident the application will meet the tough standard demanded by the law, because of CRP’s comprehensive science and consultation-based approach to its proposed mining operations, mitigation and monitoring.

 “We’ve designed the way we plan to mine and how we monitor and mitigate any effects by building in the input of the many interested parties with whom we have consulted, to ensure their concerns are addressed.  Throughout the past four and half years we’ve focused on building input from both stakeholders and scientists to ensure all the bases are covered in terms of environmental requirements.

 “Critical to that has been the high quality science provided by NIWA and other advisers.  Underscoring those efforts is the huge capability of our technical partner Boskalis whose resources, expertise and knowledge is simply unparalleled.

 “Their engineers are able to draw on more than 100 years of expertise across 75 countries.  Boskalis is undoubtedly the world leader in sea-based extraction operations and what has impressed us the most is how with every project the company undertakes, it devises innovative and environmentally sustainable methods, while always having safety as the first priority.  It is the way Boskalis does business.”

 CRP’s phosphate resource, located on the seabed of the Chatham Rise, offers fertiliser security for New Zealand’s primary industry, has big export and import substitution potential, as well as environmental benefits, making it a project of national significance.

 CRP’s 400-plus page Environmental Impact Assessment, supplemented by 35 appendices, mostly scientific reports and model is available on the EPA website, and via a link onrockphosphate.co.nz. Submissions will be posted on the website next week.

 

Chris Castle 021 55 81 85 or chris@crpl.co.nz

Please note Chris Castle is travelling over the weekend. 

NZX Announcement: AIM Listing – Pre-admission Filing

Dear Chatham Rock Phosphate shareholder,

This announcement has been filed with NZX and will be released before the market opens in the morning.

Regards,

 

Chris Castle

Chief Executive Officer

Chatham Rock Phosphate Limited

Email: chris@crpl.co.nz

Cell: +64 21 558 185

Skype: phosphateking

www.rockphosphate.co.nz


image003.jpg

3 July 2014

AIM Listing – Pre-admission Filing

Chatham Rock Phosphate (NZX:CRP) announces  that it has filed a pre-admission announcement with the AIM market in the United Kingdom. A copy of the announcement is attached.

The pre-admission announcement is a formal and public notification of CRP’s intention to have its shares admitted to trading on AIM (“Admission”). Admission remains conditional upon the successful conclusion of capital raising efforts in the United Kingdom and Europe and publication of an Admission Document in accordance with the AIM Rules for Companies. It remains CRP’s intention to have this concluded later this month.

 

Chris Castle

Chief Executive Officer

chris@crpl.co.nz

 

 


NZX Announcement: CRP advises change of share registry

Dear Chatham Rock Phosphate shareholder,

This announcement has just been filed with NZX and will be released tomorrow before the market opens.

Regards,

 

Chris Castle

Chief Executive Officer

Chatham Rock Phosphate Limited

Email: chris@crpl.co.nz

Cell: +64 21 558 185

Skype: phosphateking

www.rockphosphate.co.nz

 

 

CRP advises change of share registry

29 June 2014

Chatham Rock Phosphate wishes to advise that during this weekend our share registry services have moved from Link Market Services to Computershare New Zealand. The decision to change relates to the intended dual listing on the AIM market in the United Kingdom. Shareholders do not need to take any action and will be provided with new contact details by Computershare.

For further information, please contact:

Chatham Rock Phosphate
CEO/ Corporate Development

Chris Castle

Linda Sanders

+6421 558 185

+6427 471 5593

 

Tavistock Communications
PR and IR Advisor

Emily Fenton/ Nuala Gallagher/ Simon Hudson

+44 20 7920 3150

NZX Announcement: CRP response to TTR decision

Dear Chatham Rock Phosphate shareholder,

This announcement has just been filed on NZX and will be released before the market opens this morning.

Regards,

 

Chris Castle

Chief Executive Officer

Chatham Rock Phosphate Limited

Email: chris@crpl.co.nz

Cell: +64 21 558 185

Skype: phosphateking

www.rockphosphate.co.nz

 

CRP response to TTR decision

18 June 2014

Chatham Rock Phosphate (NZ: CRP) (“CRP” or “the Company”) today notes the announcement made by Trans-Tasman Resources (TTR) regarding the marine consent application decision of New Zealand’s Environmental Protection Authority (EPA) Decision-making Committee (DMC).

While CRP has yet to study the decision in detail, we remain very confident we have submitted a robust and comprehensive application to the EPA for our marine consent, which will meet the legal tests under the relevant New Zealand legislation. We have proposed comprehensive monitoring, mitigation and compensation conditions, following discussions with interested parties.

We feel for TTR as the company has worked hard and invested significant capital.  However it is important to remember our application cannot be compared with TTR’s.  It is for a different mineral, in a very different marine environment and using different extraction methods and will be considered by a different Decision-making Committee. 

CRP’s application also has some unique environmental and economic benefits which include:

·         It offers security of supply for New Zealand’s most significant industry

·         It’s an organic New Zealand-origin product that can be applied without any chemical processing

·         It’ll reduce the carbon footprint by lowering transport distances

·         It has one of the lowest known concentrations of cadmium of any phosphate rock

·         It reduces water pollution from run-off when used as a direct application fertiliser because it releases slowly, requiring less frequent applications than conventional fertilisers, further reducing its carbon footprint

·         The rock is highly reactive, heightening its effectiveness as a fertiliser, and has strong liming qualities. 

According to regulatory filings, the main basis of the decision regarding TTR’s marine consent application relates to concerns about potential adverse environmental effects.

CRP’s own Marine Consent to the Environmental Protection Authority, filed in May 2014, comprehensively accounts for the low level of potential environmental impacts proposed by its own mine plan throughout the development, operation and reclamation of its permit area.

CRP continues to prioritise environmental responsibility within its role as a corporate citizen and economic contributor to New Zealand. Accordingly, CRP continues to engage with EPA, Iwi and all relevant local stakeholders as part of the six-month process towards the DMC’s decision on its application, which is still expected in Q4 2014.

For further information, please contact:

Chatham Rock Phosphate
CEO/ Corporate Development

Chris Castle      +6421 558 185

Linda Sanders   +6427 471 5593

please note we are in London

Tavistock Communications
PR and IR Advisor

Emily Fenton/ Nuala Gallagher/ Simon Hudson

+44 20 7920 3150