WA IHI NORTH PROJ ECT ECONOMI C IMPACTS For New Zealand consenting purposes only. Forward looking information must not be relied on for investment purposes. 11 As noted earlier, average wages in the mine are nearly double the district average, at over $100,000 a year. Figure 3 shows that with WNP, the annual wages paid by the Waihi mine would increase significantly and be sustained for longer. This not only represents local employment opportunities, but also the flow on benefits from the spending and investments by these employees. Figure 3: WNP would inject significant additional wage income into the local economy More than tripling gold and silver exports fromWaihi and more royalties The potential gold and silver export revenue from the mine will more than triple from our current baseline projections – from cumulative total of $1.6b in our baseline scenario to $5.1b with WNP (Figure 4) – 3.2 times larger (or an additional $3.4b). Similarly, royalties paid to the New Zealand government would increase from $34m in our baseline scenario (2019 to 2030) by an additional $105m (2019 to 2036) – 4.1 times larger (Figure 5). These projections are conservative – as gold prices can be volatile. We have assumed a gold price of US$1,500/oz and an NZD/USD exchange rate of 0.71. The current futures price for gold is over US$1,900/oz. So, exports, royalties and economic contribution could be much larger than our estimates. The Waihi mine’s total export revenue (that is WNP and baseline) will be $317m, making it a very large provincial business. By this revenue measure, it would number 125 in the Deloitte top 200 list (2021).2 It would be bigger than well-known companies like Delegat Group, 2 https://top200.co.nz/wp-content/uploads/2022/03/nz-en-Top-200-2021-Top-200-Index.pdf 0 10 20 30 40 50 60 70 80 2000 2010 2020 2030 $m Wages Paid by Waihi Mine Wages paid With WNP Baseline
RkJQdWJsaXNoZXIy MjE2NDg3