‘Pure’ New Zealand chases gold as record prices burnish allure

New Zealand is accelerating gold development as record bullion prices make mining more attractive and help support a weak economy. Reuters says national gold output could double by the mid-2030s, reaching its highest level in at least 30 years, aided by two approved projects and a third awaiting a final decision. The industry is also benefiting from faster permitting under a late-2024 fast-track law, which has reduced approval timelines but drawn criticism from environmental and farming groups worried about damage to the country’s “100% Pure” image. Gold exports have nearly tripled in three years to NZ$1.83 billion and now make up 2.3% of goods exports. The debate is politically sensitive ahead of a November 7 election, and the fate of major projects such as Santana Minerals’ Bendigo-Ophir mine will be a key test for the sector.