Overseas investment notification for case 201900680/1,2,3,4 - Oceana Gold (New Zealand) Limited

An overseas investment in residential-only sensitive land, being the consent holder’s acquisition of a freehold interest in:

• approximately 0.991 hectares of land located 91 Kenny Street, Waihi (Transaction 1);
• approximately 0.908 hectares of land located 93 Kenny Street, Waihi (Transaction 2);
• approximately 0.352 hectares of land located 81A Kenny Street, Waihi (Transaction 3); and 
• approximately 0.356 hectares of land located 81B Kenny Street, Waihi (Transaction 4).

The Consent Holder was granted a standing consent under the incidental residential and non-residential use tests on 6 October 2020. The consent permits the Consent Holder to acquire up to 75ha of residential (but not otherwise sensitive) land in up to 15 transactions of 5 ha per transaction, within the Hauraki District Council territory. The acquisitions must occur by 31 October 2023.   

The Consent Holder is ultimately owned by OceanaGold Corporation, a multinational gold, silver, and copper mining company headquartered in Melbourne and listed on both the Toronto and Australian stock exchanges.  The Consent Holder operates two major mining developments in New Zealand – the Waihi gold mines and Macraes gold mines (in Otago). 

The transactions comprise the first four acquisitions of land by the Consent Holder under their standing consent. 

Under the standing consent the Consent Holder is permitted to acquire residential land for various purposes related to its mining activities in Waihi. The Consent Holder intends to lease the land until mining activity commences/ or while mining takes place.