| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 6 May 2026 |
| Pathways | Sensitive land – Farm land benefit test |
| Investment | Acquisition of a freehold interest in approximately 3,680.33 hectares of land at Ardgour Station and Bendigo Station, Tarras, Cromwell |
| Consideration | $80,000,000 |
| Applicant | Matakanui Land Limited Australia 63% New Zealand 37% |
| Vendors | Bruce Duncan Stuart Jolly and Linda Marie Jolly Withheld under section 9(2)(a) of the Official Information Act 1982 New Zealand 100% Bendigo Station Limited New Zealand 100% |
| Background | Matakanui Land Limited is a land holding company which is ultimately owned by Australian company Santana Minerals Limited, a precious metals exploration and development company headquartered in Sydney, Australia. Matakanui Land Limited is buying a total of approximately 3,680.33 hectares of farm land at Ardgour Station, Tarras, Cromwell and Bendigo Station, Tarras, Cromwell. The land is currently used by the Vendors for pastoral farming. Part of the land will be used in the excavation of an open pit and underground gold mine, and the remainder of the land will be leased back to local farmers. The mine will be operated by the Applicant’s sister company Matakanui Gold Limited. The main benefits to New Zealand are likely to include: – Direct capital investment of over $500 million over its 13–14-year life span; The consent is conditional on Matakanui Land Limited obtaining all necessary resource consents to operate the mine. Consent was granted as the Applicant has met the investor test criterion and the investment is likely to benefit New Zealand. |
| More information | Rob Andersen Helmores Lawyers Rob@helmores.nz |