28 Jan 2011

Iron ore prospecting licence obtained

12:02 pm on 28 January 2011

Trans-Tasman Resources says it's received another license to prospect for iron ore in the Continental Shelf in offshore Taranaki.

Trans-Tasman is prospecting for iron ore, titanomagnetite, on the seabed well, and the new licence covers 3314 square km.

Managing director Paul Berend said the new license, which shares a border with an existing Trans-Tasman licence on the southern Taranaki coastline, is highly prospective.

The New Zealand-registered company has two years to complete an initial estimate of the area.