The latest New Zealand First policy will see 50% of the royalties from mines returned to the region where the mine's located.

Under the policy, the role of government agencies would also be limited. 

Minerals Council Chief Executive Josie Vidal told Mike Hosking that it's great to be recognised as the industry that keeps New Zealand going. 

She says the world is finding out you can't live on rainbows alone - and fossil fuels are needed.

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