| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 23 January 2026 |
| Pathway | Sensitive land - Farm land benefit test |
| Investment | Acquisition of a freehold interest in approximately 2,039.774 hectares of land at 540 Four Mile Road, Hyde. |
| Consideration | $11,250,000 |
| Applicant | Oceana Gold (New Zealand) Limited United States of America 48% Canada 15% United Kingdom 8% Australia 4% Switzerland 3% France 2% Various 20% |
| Vendors | Donna Maree O'Neill and Paul Stafford O'Neill as trustees of the Mount Highlay Trust New Zealand 100% |
| Background | The Applicant is a New Zealand incorporated company ultimately owned by OceanaGold Corporation. It is New Zealand’s largest gold producer, and is engaged in the discovery, extraction, and processing of gold ore. The Applicant is buying approximately 2,039.8 hectares of farm land at 540 Four Mile Road, Hyde, Central Otago. Part of the land will be used in the expansion of the Applicant’s existing open pit and underground gold mine (the Macraes Mine, which adjoins the land), and the remainder of the land will be leased back to local farmers. The main benefits to New Zealand are likely to include economic benefits arising from capital expenditure, a significant number of permanent FTE retained jobs, increased export returns and increased tax and royalty revenues. The Investment also advances government policy by supporting New Zealand's 'Minerals Strategy for 2040', a Government plan launched in early 2025 to boost the minerals sector. Consent was granted as the Applicants have met the investor test criterion and the investment is likely to benefit New Zealand. |
| More information | Robert Huse Anderson Lloyd (Auckland) P O Box 399 Shortland Street Auckland 1140 |