Chatham Rock Phosphate has pushed back the start date for its mining project by up to 18 months, blaming delays in gaining a mining licence and marine consent.
It has reported a loss of $675,000 for the six months to September, compared with an $870,000 loss for the same time last year.
CRP is seeking a mining licence for the seafloor, known as the Chatham rise, 450 kilometres off the Canterbury coast.
Managing director Chris Castle said the company had expected approval six months ago from New Zealand Petroleum & Minerals, a Government agency. He could give no date for a start.