An Environment for Mineral Development

The title of my address today 'An Environment for Mineral Development' is a play on words, but I wish to use the meaning of the word environment in the broadest possible context to comment on those factors that control mineral development in New Zealand today. Of prime importance, let us consider the current economic environment in which New Zealanders live and work, as individuals and communities, and as a trading nation. It is the expanding growth requirements of the emerging nations and the interactive economic forces of our international trading partners and competitors, that dictates New Zealand's economic environment and thus the priority to develop its natural resources. As an itinerant New Zealander who has kept a watching brief over the economic environment in New Zealand over the last 30 years, I say, without prejudice, that I am concerned to have seen New Zealand's external and internal trading position deteriorate so rapidly in the last decade. I am concerned that a significant proportion of the population has been extremely slow to realize that with the creation of the European Economic Community, in the late 1950s, and following the first OPEC oil crisis in 1973, New Zealand in a corporate sense came close to technical bankruptcy.