Trans-Tasman Resources retracts $1bn annual claim amid criticism over reporting standards.

Trans-Tasman Resources (TTR), a seabed mining company, retracted its claim of generating $1 billion annually due to criticism over reporting standards. Initially linked to New Zealand's Fast Track Bill, TTR aimed to extract 50 million tonnes of seabed yearly. Critics, including Kiwis Against Seabed Mining, argued TTR misled investors and should be removed from the list. TTR's chair, Alan Eggers, termed the retraction a "technicality" and reiterated future earnings goals.

October 11, 2024
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