DWC has committed to investing $3 million in WMS Group, as the company works to build a resilient, low carbon supply chain and become a reputed exporter of high value mineral sands to global markets.
WMS Group Chair Duncan Hardie says the partnership with DWC gives West Coast communities a stake in the company’s future.
“We are making a long-term commitment to the West Coast, and we want to leave a lasting legacy for future generations,” he says.
“This support will help us on the path to growing our operations, creating jobs, continue our local spending with other businesses and industries and help us support community initiatives through sponsorship, giving the West Coast economy a real boost.”
Development West Coast was set up in 2001 as a trust funded by a $92 million contribution from the government in recognition of the privatisation of much of the region’s infrastructure. It distributes, invests and manages the funds on behalf of the region.
DWC chief executive Heath Milne says WMS Group’s growth plans are exciting for the West Coast and the decision to invest aligns with the trust’s objectives of promoting sustainable employment opportunities and economic benefits for the West Coast.
“We are looking forward to working with WMS Group and seeing our region’s communities reap the benefits from mineral sands industry growth.”
WMS Group Managing Director Ray Mudgway describes the investment as a vote of confidence in the company’s vision and says it is another major milestone in the journey from promise to production.
“We have proven ourselves to be a company which follows through on its commitments to our communities, whether that’s through ensuring our activities are as low impact as possible or through our support for our local sports teams and regional initiatives like the Kawatiri Coastal Trail,” he says.
“We are grateful to have the support of Development West Coast as we take the next steps to grow the mineral sands industry into one the West Coast can truly be proud to be a part of.”
Ray Mudgway says the company remains on track with plans to seek resource consent for a second site at Mananui, south of Hokitika through a publicly notified process and is preparing for the arrival of its motorised barge for low carbon transport of its product in the first quarter of 2024.
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