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Prime Minister John Key - Source: Q+A -
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The Prime Minister has been forced to sell shares in an Australian mining company, after TVNZ's Q+A programme pointed out its links to uranium mining .
As the government considers opening up the Department of Conservation estate to more mining, John Key says he will sell his shares to avoid conflict of interest allegations.
"It is a very small Australian gold mine. I actually had a lot of shares in that company and I basically largely sold them. It was a remnant small amount (left). It's a tiny sort of thing, but it won't be mining in New Zealand. Jackson Mining has a small mine in Australia," Key said on Q+A.
Although it was pointed out that after a merger that company now has substantial interests in mining uranium, commonly used for nuclear power.
Key said he had not looked into that issue.
"As I say, I was a reasonable shareholder at the time. I actually sold the vast bulk of shares I own. There was a very small amount (left) and the reason I didn't sell them was their value was so low. If they have done a merger that's the first I know about it today."
Armed with the merger information, Key decided to sell the shares a few hours after the interview on Q+A.
"It will be useful in the future to make sure there are no issues," he says.
Key says he never intended to invest in the uranium mining industry.
Labour leader Phil Goff says Key had no choice but to sell the shares.
"It wasn't a good look for a Prime Minister who is about to mine our national parks and who is Prime Minister of a proudly nuclear-free country. To have mining shares and shares in uranium, it just wasn't on," Goff says.
