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.
