Environmental Management Of A New Minerals Frontier

Following on from the successful completion of three exploration programs and the discovery of two new inactive Seafloor Massive Sulphide (SMS) deposits within New Zealand?s Exclusive Economic Zone (EEZ), Neptune is now poised to take the next step from explorer to developer. Neptune considers that commercialization of SMS deposits represents the future of the mining industry, providing a new source of metals to the world economy, and enabling host countries to benefit from this new industry. Neptune recognizes that marine biodiversity is among the greatest treasures of New Zealand. The geological isolation, range and complexity of habitats, and a number of major ocean currents that influence New Zealand have created diverse marine communities. Neptune, recognizing both the environmental importance of marine biodiversity and the value it provides to all New Zealanders has made commitments to ensure sustainable development. There are many unanswered questions regarding how the marine environment may be affected by SMS development, however best practice environmental management is a key aspect of the Company?s approach to our activities and the code for ?Environmental Management of Marine Mining? prepared by the IMMS has played a part in this approach. Neptune has close relationships with the scientific community to ensure that appropriate environmental strategies and plans are developed in order to minimize the effects of our activities on the environment.