12. Hon PETE HODGSON (Labour—Dunedin North) Link to this
to the Prime Minister
Did he declare his interest in Jackson Mining when any Cabinet papers concerning mining in the Department of Conservation estate were discussed; if not, why not?
Hon JOHN KEY (Prime Minister) Link to this
Jackson Mining is an Australian company that does not currently operate in New Zealand, and, to the best of my knowledge, has no plans to do so. There cannot, therefore, be any conflict of interest between my shareholding and any decisions the Government may make in relation to exploring options for new mining on Crown land in New Zealand. But for the member’s benefit I advise that I sought confirmation from the Cabinet Office this morning, and I have been advised that a conflict of interest does not arise in this case.
Why has he declined my official information request seeking details about which Ministers have declared any conflict of interest; and does he still stand behind the argument that it would take too long?
Can he assure the House that his other overseas investments are not investing or considering investing in New Zealand?
Yes. I am more than happy for anyone to read my pecuniary interests. I own some shares in a company called The Little Nell, which happens to be a ski-in, ski-out resort in Aspen—and I doubt that it will be doing much in New Zealand anytime soon. I own some Bank of America shares that used to be Merrill Lynch shares. They were converted over there, and because of my long-term contract with Merrill Lynch from when I was employed there it is hard to transfer them. But to the best of my knowledge the Bank of America has no operations in New Zealand.
As a shareholder, how was he not aware that Jackson Mining merged last year and sold its non-uranium interests? Was he simply not advised?
There was the small technical issue—I have been busy running the country. But I am the first to admit it was a bit sloppy. I bought the shares in 2001, and the last time I looked at them, from memory, was 2007 or 2008. At the time they were trading at 3.5c, and when I offered them to my son, who was 12 at the time, even he did not want them.