New Talisman Gold Mines has formally applied for the inclusion of the Talisman mine project in New Zealand’s Fast Track Approvals Bill, which is currently under review by Parliament.

The Bill, an initiative stemming from the coalition government agreement, aims to streamline the approvals process for significant projects, including mining.

The proposed legislation proposes to consolidate multiple authorisations into a single application, thereby facilitating a more comprehensive assessment process without compromising environmental considerations.  

New Talisman said on Friday that the proposed new approvals regime was a significant opportunity for the New Zealand resource project and the mine.

“If the Talisman mine is included in the list, we would anticipate that the approvals process would be much smoother and more timely than has been experienced to date, thus reducing costs and potentially resulting in a more certain outcome,” said the Australia- and New Zealand-listed company.

New Talisman has progressed the Talisman mine to a state of readiness to begin production in the December 2023 quarter. The company previously accused the Department of Conservation (DOC) of being “extremely slow” in progressing its long-term access arrangement and associated authority to enter and operate.

The DOC has reportedly advised New Talisman that a decision could be expected in June.

The result of these delays, and the impact on the company’s original production and revenue timetable, has forced it to consider raising funds before it will be able again to remobilise its team, secure a processing facility and start production.

However, the company has said it will only consider a capital raise until it is certain that it will receive its access arrangement.

The Talisman mine is the second biggest historic gold producer in New Zealand with production of one-million ounces of gold and three-million ounces of silver.