New Zealand Auctioning Platinum Mining Sites for First Time

The Wall Street Journal reported that the government of New Zealand is holding its inaugural auction of platinum mining sites in a bid to reduce the country’s dependence on the agricultural and dairy industries.

As quoted in the market news:

Companies have until April 2014 to submit bids for areas on the South Island, the ministry of business and innovation said in a statement Friday. Some five areas covering around 3,814 square kilometers will be opened up for exploration over an anticipated initial five-year period, starting from December 2014.

Click here to read the full report from The Wall Street Journal.