Overseas investment decision for case 202600406 - Tasman Mining Limited

An overseas investment in sensitive land, being the Applicant's acquisition of:

• a freehold interest in approximately 1.4925 hectares at 131-139 Buller Road, and 2 and 4 Potter Street, Reefton and 1 Lucas Street, Reefton; and
• an existing leasehold interest in approximately 1.0567 hectares at 16A and 16B Hattie Street, 20, 26B, 28A and 28B Shiel Street, Reefton.

Freehold interest: Withheld under section 9(2)(b)(ii) of the Official Information Act 1982

Existing leasehold interest: Withheld under section 9(2)(b)(ii) of the Official Information Act 1982

The Applicant is ultimately owned by Endura Mining Pty Ltd, a private Australian incorporated company. The Applicant is acquiring the Land to develop a mining village to serve the Snowy River Gold Mine.

This was a retrospective application as the Applicant acquired leasehold interests over the 3-year maximum term in the residential properties.

The Applicant self-reported to LINZ when it became aware that the acquisition of the existing leases was in breach of the Act and retrospective consent was considered to be appropriate given the inadvertent nature of the breach.

Retrospective consent was granted for the leasehold interest as the Applicant has met the investor test criterion and the investment is likely to meet the incidental residential use test.

Consent was granted for the freehold land as the Applicant has met the investor test criterion, and the investment is likely to meet the incidental residential use test and non-residential use test.