Tāiko Critical Minerals, an Australian-controlled firm, lists on the NZX today, giving Kiwi investors access to its West Coast mining project.
The company aims to extract rare earth heavy metals from Barrytown farmland near Greymouth, employing a rehabilitative mining method.
Chief executive Robert Brand stated that the NZX listing seeks to strengthen the company’s long-term finances while attracting local investors.
“Expanding our investor base and having greater access to growth capital are critical enablers of our plans to extract from a ‘world-class’ deposit in an emerging high-value sector for the New Zealand economy and to deliver long-term value for our shareholders,” Brand said.
Tāiko targets high concentrations of ilmenite, garnet, zircon, rutile, and rare earth element concentrates at the site.
The minerals will be extracted and processed nearby at Rapahoe prior to export.
After capital raising, construction and commissioning of the extraction and separation facilities are slated for 2027, paving the way for commercial production in 2028.
“In the year ahead we’ll be employing the first group of 135 workers, with a further 189 support roles expected in the future,” Brand said.
“There are also quite a few houses to build and plants to be constructed ahead of an expected $11.8 million in local wages and $112.5 million in annual export earnings, so there is a lot to look forward to as this project starts to get up and running.”
Brand noted that Tāiko plans to raise additional capital later this year and has already sold shares to New Zealand wholesale investors.