Template Letter to MPs — Gold Sector & Sovereign Wealth Concerns

(For public use — polished, formal, and ready to send)

📨 How to Use This Letter

If you share these concerns, please copy and paste the letter below, add your name and contact details, and send it to your local MP — or to several MPs if you wish. You can also forward it to community leaders, journalists, or policy advisers. The goal is simple: to ask why New Zealand continues to export its wealth while retaining so little. Every message helps bring this issue into public view.

Subject: Request for Parliamentary Review of New Zealand’s Gold Sector and Sovereign Wealth Strategy

Dear [MP Name],

I am writing to raise a matter of significant public interest regarding New Zealand’s gold sector, its ownership structure, and the long‑term implications for our national wealth and economic resilience.

Recent investigations have revealed that:

New Zealand’s major gold mines are overwhelmingly foreign‑owned, including OceanaGold, Santana Minerals, Endura/Federation Mining, and Evolution Mining.

These companies collectively produce the vast majority of New Zealand’s gold, with OceanaGold alone responsible for approximately 84% of national output.

Despite high production volumes and strong profit margins, royalties paid to New Zealand are extremely low, totalling only NZ$11.6 million in 2024 across an industry valued at roughly NZ$1.1 billion.

Some operators have paid little or no corporate income tax in recent years, despite substantial extraction and export revenue.

Most profits, dividends, and capital gains are exported offshore to foreign shareholders.

Meanwhile, the Reserve Bank of New Zealand holds no gold reserves, and has conducted no analysis of global gold‑reserve trends or New Zealand’s own gold‑extraction context.

New Zealand has recently issued a record number of mineral permits, many to foreign companies, without any corresponding sovereign wealth strategy.

These findings raise serious questions about whether New Zealand is adequately retaining value from its own natural resources, and whether current policy settings unintentionally contribute to long‑term national under‑wealth.

I respectfully request that you raise the following questions in Parliament:

Why does New Zealand hold no gold reserves, despite global trends of central banks increasing gold holdings for stability and risk mitigation?

Why has the Reserve Bank not conducted modelling or analysis on gold‑reserve strategy, global gold trends, or the implications of New Zealand’s gold extraction?

Why are royalties and tax settings so low that New Zealand retains only a small fraction of the value extracted from its own land?

Why are foreign‑owned companies permitted to dominate gold extraction, export most profits offshore, and pay minimal corporate tax?

What is the long‑term sovereign wealth plan for ensuring New Zealand benefits from its natural resources rather than losing value through extraction‑without‑retention?

Will the Government commit to reviewing the gold‑sector regulatory framework, including royalties, tax settings, reserve strategy, and foreign‑ownership concentration?

New Zealand is rich in resources, yet many of the benefits appear to flow offshore.
This issue deserves transparent public discussion and Parliamentary scrutiny.

I ask that you treat this matter with urgency and provide a response outlining what steps you will take to ensure New Zealand’s resource wealth contributes meaningfully to our national prosperity.

Thank you for your attention to this important issue.

Sincerely,
[Your Name]
[Your Address]
[Your Email]