1. The Suggestion

Australia has large amounts of mineral wealth. Why don't we dig up our billions worth of untapped resources?
That will make us rich like Australia.

3. The Problem

Some Politicians say that using our mineral wealth is the only way to reverse New Zealand's economic fortunes [1].
They use a report by Richard Barker [2] to state that we can get $140 billion for New Zealand out of the ground.
We used the same report with its most optimistic estimates and altered New Zealand's growth in mining for different materials to calculate the year each resource will run out.
$140 billion sounds like a lot of money, but sacrificing our countries core values for such short term gain will not even have much impact on our overall economy.

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The Annual Turnover for each resource is not it's contribution to GDP, it is the value removed from the ground.
The amount contributed to GDP differs for each resource, but an optimistic estimate is that it is about half the turnover value.
So the current turnover of oil and gas is about 3 billion, adding $1.5 billion, less than 1%, to GDP.

This also means that the figure of $140 billion of resources, actually means that it will increase New Zealand's GDP by about $70 billion. Or another way to put it is you could dig up all New Zealand, and this will only increase the GDP by 30% for a single year.

2. How it Works

Use the sliders to increase the Annual Mining Growth.

Oil Growth
Coal Growth
Metal Growth

4. The Impact

New Zealand Mining: Annual Turnover ($NZD) vs. Time to Depletion (Year)

Estimated Year of Oil Depletion

Estimated Year of Coal Depletion

Estimated Year of Metal Depletion