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| Latest Political News | Sunday April 15 2012 9:52
The Energy Minister has admitted New Zealand isn't getting enough in royalties from mining.
Phil Heatley says the Government is reviewing royalty rates, as it opens up vast areas for exploration.
He says there's probably not much scope to raise the 43c in the dollar charged to companies extracting oil and gas, because New Zealand is remote and it would drive investors away.
But he's told TVNZ's Q&A programme miners extracting coal, gold and minerals can expect to pay more.
"If we are going to do more mining, more oil and gas exploration, and we are saying that we want to put that into schools and hospitals and all these other things New Zealand wants then we do need to make sure that we are getting our pound of flesh."
Image: Getty Images
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Thursday, June 20, 2013
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