New Endeavours
Canadian mining company Endeavour Mining is making a fresh bid to acquire a license from government to explore our manganese nodule resource.

Canadian company Endeavour Mining is making a fresh bid to partner government in the exploration and commercial development of our sea bed mineral resources namely the manganese nodules.
Top executive Gordon Keep returns accompanied this time by Cook Islander Sandy Moreland to make fresh approaches to government and other key stakeholders in a bid to secure offshore mining and mineral rights.
Moreland, of Mitiaro background, is a new addition to Endeavour’s team replacing Richard Barton.
The timing of the company’s approach is interesting given that since the company’s previous approach, government has enacted the very comprehensive and legally challenging Sea Bed Minerals legislation and is currently in the process of engaging an overseas consultant to develop the policy framework for government. He is Darryl Thorburn, who as Natural Resource Advisor, will take up his post late in the year or early next year. He has extensive worldwide experience in mining, including New Zealand and Afghanistan. A Seabed Mineral Commissioner, who will head the new mining authority, is yet to be appointed.
Given that the policy development is a two year process, government may feel it is not in a position to consider the issuing of any licenses.
On Thursday, Keep and Moreland met with the Minister for Marine Resources Hon Teina Bishop and members of the House of Ariki. On Friday morning they were scheduled to meet with the Minister for Sea Bed Mineral Resources, Deputy Prime Minister Hon Tom Marsters.
A near cash strapped government has to weigh up whether it issues licenses now and banks the cash or waits two more years for the policy framework to fall into place. During the initial exploration, research and evaluation stages, which will take place over around three years, Endeavour proposes to put up a total of $40 million. And this is just to determine if mining is feasible. Knowledge gained during this early research stage will be shared with government. The whole 40 month project through to commercialization, if it proceeds, will see the company invest $1 billion. This money is expected to come from the establishment of a new company, which will be listed on the Canadian stock exchange.
As Endeavour has previously advised during past community level meetings, their proposals, if they come to fruition, will result in significant job creation and revenue generation for government, up to an estimated 40 per cent of GDP per year.
At community level, Endeavour proposes to provide cultural and sports sponsorship.
Given it will take government around two years to firm up the policy framework and procedures, the question is whether some agreement can be reached for Endeavour to be permitted a license for a specified area, subject to amendment or whether the company itself can be part of the policy development process. A “working” model which will set the standard for the rest to follow.
Policies and procedures must be reasonably flexible and subject to change but without the benefit of hindsight or previous experience, we will be entering a new field with policy and procedures which are untested. -Charles Pitt

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