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LiveNews: https://livenews.co.nz/2026/02/13/about-the-transition-from-the-household-economic-survey-to-the-household-income-and-living-survey-stats-nz-methods-paper/
Household Economic Survey population rebase: Year ended June 2019 to 2024 – Stats NZ methods paper
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LiveNews: https://livenews.co.nz/2026/02/13/household-economic-survey-population-rebase-year-ended-june-2019-to-2024-stats-nz-methods-paper/
Sky customers get $50 refund after ‘process error’
Source: Radio New Zealand
Sky TV says it conducted a full investigation into the issue. Supplied / Richard Parsonson
Sky TV is apologising for what it says is a processing error that meant some Sky Sport Now annual pass customers were not given enough information about their contracts rolling over.
RNZ reported last year that some customers were not happy they did not receive notice of the automatic rollover of their contracts, including the information that they would shift from the promotional price of $365 a year to a new rate of $549.
“I emailed within two hours of our card being charged yesterday to see if they would offer us the promotion, but they have not and are sticking to charging us the full $549,” one customer said.
“I am particularly concerned regarding the price aspect here, and whether an annual rollover is fair when the price of the contract increases by 50 percent. We can’t find any notice of that price increase either.”
Sky TV said this week it had looked into the issue and conducted a full investigation.
“Due to a process error, we didn’t send some Sky Sport Now Annual Pass customers – those whose pass renewed between June 6 and December 15, 2025, the usual reminder email before renewal.
“This should have been sent 30 days before payment was taken and would have both confirmed the renewal and notified them of the new Annual Pass price of $549.99 effective from March 21, 2025.
“We’re sorry for this and are taking steps to make it right.”
The Sky TV spokesperson said affected customers had been sent an apology email.
This would also let them know they would receive a $50 refund, which took them back to the standard price before the price increase.
“We have also let these customers know that if they don’t wish to continue with their annual pass, they can choose to cancel their pass early. Customers who opt for this will receive a pro rata refund but will lose access to Sky Sport Now from the day of cancellation.
“Finally, we have let customers to know that we are sorry this has happened, we’ve fixed the issue and have strengthened our renewal notification processes to avoid this happening again.”
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
LiveNews: https://livenews.co.nz/2026/02/12/sky-customers-get-50-refund-after-process-error/
Taupō school fire: Students to keep studying from home next week
Source: Radio New Zealand
The school block destroyed in a suspected arson is being demolished. Taupō-nui-a-Tia College
Students from a Taupō secondary school that lost a classroom block in a suspected arson will continue learning from home next week.
Roads around Taupō-nui-a-Tia College, on Spa Road, were closed for about four hours on Sunday while firefighters battled the blaze.
Since Monday the school’s 1200 students have been doing lessons online at home.
Principal Ben Claxton said demolition of the destroyed block began on Tuesday and was continuing – meaning students couldn’t yet return.
“The demolition was expected to take a while and for all sorts of health and safety reasons we’ve asked our students to remain home for the remainder of this week and next week, at this point.
“We’re going to review it on Wednesday.”
Principal Ben Claxton says students will continue to learn online into next week. RNZ / Jimmy Ellingham
The destroyed classroom block had 11 teaching spaces, as well as housing the school’s health and counselling services.
Police have charged two youths with arson and they were due to appear in the Taupō Youth Court this week.
Claxton said he expected online learning to ramp up next week, and the school would communicate its expectations about that.
“Learning from home is a good option to have, but nothing beats face to face, so we are literally today starting to look at what we can do for the rest of the year.”
Some students and staff members were affected by what had happened and on Wednesday staff came together to share stories and plan for the future.
Although, Claxton said this week had been negotiated step by step, especially when the school was still in crisis mode.
Firefighters could be seen on the roof at Taupō-nui-a-Tia College during the fire. LES WILLS / SUPPLIED
In the short term some classes could be held in a nearby tertiary institution, which had volunteered its space. Claxton said that was getting finalised.
“The medium to long term is we’re hopeful of getting some form of relocatable-classroom situation onsite, to the number that we need.
“That’s all happening in the background with the ministry at the moment.”
Claxton said rebuilding projects could take time to plan and then begin.
A Ministry of Education spokesperson said it was exploring a range of temporary classroom options.
“The school continues to deliver online learning while the site is cleared and the best approach is determined.
“We understand the significant impact the fire has had on staff, students, and the wider community, and we are working with urgency to make sure any disruption to teaching and learning is minimised.”
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
LiveNews: https://livenews.co.nz/2026/02/12/taupo-school-fire-students-to-keep-studying-from-home-next-week/
EMA backs broad direction of new Health and Safety Bill – but warns key gaps must be fixed
Source: EMA
The Employers and Manufacturers Association (EMA) says the government’s new Health and Safety at Work Amendment Bill takes a constructive step towards a modern, risk-based system – but warns several significant issues must be addressed through the submission and select committee process.
EMA Manager of Employment Relations and Safety Paul Jarvie says a risk-focused framework is the right direction. However, there are flaws and inconsistencies that could undermine its intent.
“A modern, risk-based approach is different to what we currently have, but the current approach isn’t working. So it’s worth trying this – a framework successfully used in other jurisdictions around the world.
“We do have concerns about the proposed exemptions for smaller businesses (fewer than 20 employees), as size has no bearing on risk, and some of the proposed exemptions could create new problems rather than solving old ones.”
The proposed bill limits these businesses’ requirements to identify and manage critical risks. Businesses with more than 20 workers, however, would continue to be responsible for managing all risks, not just critical ones.
However, the greatest cause of workplace injuries across all sectors is strains, sprains, and back injuries. These would not meet the critical-risk criteria and therefore would not be required to be identified or managed.
Jarvie says this creates a problematic disconnect.
“It’s vital that businesses collect all this data – for example, incident and near-miss reports – to understand what is potentially going to happen next. Low-level injuries can often help identify a more significant issue. Workplace violence, fatigue, and stress are other examples of issues employers need to identify and manage but which would not meet the critical-risk criteria,” he says.
“Creating a distinction between a small business and a large business doesn’t make any sense when both could have the same risks and injury profiles.”
Another challenge is allowing other legislation to override health and safety requirements if those duties are already covered elsewhere.
Jarvie says this creates uncertainty and could lead to unintended consequences.
“We already see conflicting requirements between agencies – for example, between land transport rules and health and safety guidance. Without clearer definitions, the bill risks widening those gaps.”
The EMA strongly supports the bill’s proposed industry-led Approved Codes of Practice (ACOPs) and its clearer distinction between governance and operational duties.
However, Jarvie says the absence of draft regulations could add confusion.
“We urgently need regulations to support the current Health and Safety at Work Act. It’s critical that we see them and that they align with and direct the bill’s intent.”
Jarvie says the success of the reforms will rely on a well-resourced, modern regulator that works collaboratively with business, similar to the Swedish system.
“Employers need confidence that they’ll receive consistent, practical advice. Without that, the risk-based model won’t deliver the improvements we all want.”
“Overall, we support the Bill’s intent,” Jarvie says. “But several significant issues need to be addressed to avoid unintended consequences. If we get this right, it will help New Zealand finally shift its stubborn health and safety performance.”
The EMA will continue reviewing the legislation in detail and will provide further guidance to its members in the coming weeks.
LiveNews: https://livenews.co.nz/2026/02/12/ema-backs-broad-direction-of-new-health-and-safety-bill-but-warns-key-gaps-must-be-fixed/
Privatisation – Te Whatu Ora’s embarrassing U-turn over proposed car park plan – NZNO
Source: New Zealand Nurses Organisation
Te Whatu Ora needs to go back to the drawing board and prioritise worker safety after reversing plans to charge hospital workers market rates for car parks, NZNO says.
Tōpūtanga Tapuhi Kaitiaki o Aotearoa NZNO delegate and Christchurch health care assistant Al Dietschin says NZNO members were angered they weren’t consulted on the draft policy.
“Last year there were several shocking attacks on hospital health workers forced to walk to their cars because they can’t park at or near their workplaces. This includes a Palmerston North nurse being carjacked and a Christchurch nurse being left with a concussion.
“Our members provided robust feedback that charging health workers market rates for car parks was not the answer and would leave those unable to pay up to $100 a week even less safe.
“This is an embarrassing U-turn for Te Whatu Ora, but it is heartening they have listened to our members. Te Whatu Ora now has a chance to get this right and consult on and draft a policy that makes car parking for health workers safe, reliable and affordable,” Al Dietschin says.
LiveNews: https://livenews.co.nz/2026/02/12/privatisation-te-whatu-oras-embarrassing-u-turn-over-proposed-car-park-plan-nzno/
Banking Ombudsman puts property partnerships under the spotlight this Valentine’s Day
Source: Banking Ombudsman Scheme
12 February 2026 – Partnering with friends or family members can be a great way to get on the property ladder, but it can come with risks, warns the Banking Ombudsman.
Nicola Sladden said a recent dispute investigated by the scheme was a timely reminder for people buying property with others to have a firm understanding of their rights in a partnership.
“Shared financial arrangements can work well when everyone is in agreement about goals and timeframes. But problems can arise when circumstances unexpectedly change,” said Ms Sladden.
“When relationships end, joint accounts, loans and partnerships can become tricky. It’s crucial to understand how your accounts are set up, and what your rights and obligations are. This knowledge can prevent a difficult situation from becoming even more stressful.”
In 2008, Sonia helped her son Nicholas and his wife Laura buy a home. The three formed a partnership to buy the property and jointly borrowed $320,000 from the bank.
When Nicholas and Laura separated in 2023, Sonia and Laura wanted to sell the property, but Nicholas told the bank they were in disagreement about what to do. The bank then refused to act on any instructions from the borrowers until the dispute was resolved. It also refused Sonia’s offer to repay the loan in full so the mortgage could be discharged.
The Banking Ombudsman scheme considered the bank had acted wrongly in refusing to discharge the mortgage. The loan terms allowed any of the three borrowers to repay the loan. Under section 97 of the Property Law Act 2007, a mortgagor has the right to repay a mortgage in full and “redeem” the property. The disagreement between the borrowers did not affect the partnership’s ability to give instructions to the bank because Sonia was able to pass resolutions without the others’ agreement and therefore instruct the bank on the partnership’s behalf.
The bank offered Sonia $10,000 to resolve her complaint, an offer she accepted.
Ms Sladden said the scheme’s guide on relationship breakdowns and banking recommends banking customers:
- Talk openly with your partner about money. Good Shepherd’s Healthy Financial Relationships Toolkit can help. (ref. https://toolkit.goodshepherd.org.nz/courses/healthy-financial-relationships-toolkit/ )
- Discuss in advance how you would divide assets if you separated, and get legal advice if you decide you need formal arrangements.
- Make sure you understand your bank account mandates, and that they match what you and the joint account holder have agreed to.
- Tell your bank if you believe a joint account holder is using the account in a way you have not agreed to. The bank can freeze the account to keep the money safe, and you can open a separate account for yourself in the meantime.
LiveNews: https://livenews.co.nz/2026/02/12/banking-ombudsman-puts-property-partnerships-under-the-spotlight-this-valentines-day/
Baby killed in Wairoa school bus crash
Source: Radio New Zealand
RNZ / Kim Baker Wilson
A baby was the person killed in a devastating crash involving a car and school bus in the Hawke’s Bay township of Wairoa.
The collision happened at about 3pm on State Highway 2 on Tuesday, at the intersection of Black Street and Archilles Street.
A person in the car, which RNZ sources have confirmed was a baby, died and two others in it were left fighting for their lives.
Wairoa Mayor Craig Little said he had heard that a baby had died in the “horrendous crash” and that the close-knit community was completely devastated.
“It has just causes absolute devastation, and Wairoa is a small town, everyone knows everybody.
“The whole town is in shock to be quite honest, we are just here in whatever way or form to look after these families who are really going through a hard time, and that’s even the bus driver as well.
“These families will probably never get over this.”
Little said he had spoken to family, locals and emergency services.
“Everybody is struggling with this one, they are all well known families, good families.”
Little said no one really knows how the crash happened and that it was a very odd accident.
Only minor injuries were reported from the driver and two passengers on the school bus.
The Ministry of Education said it had engaged a traumatic incident team to work with the school that had its students on the bus.
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
LiveNews: https://livenews.co.nz/2026/02/12/baby-killed-in-wairoa-school-bus-crash/
How accessible are nangs? An RNZ investigation found out
Source: Radio New Zealand
AFP/ GARO
A Checkpoint investigation has revealed how easy it is to get potentially dangerous nitrous oxide or nangs in large quantities from dairies, vape stores and convenience stores.
The gas has legitimate medical uses and is also used in catering to whip cream, however it is illegal to supply, possess or use the gas recreationally.
Checkpoint visited 16 stores across three areas in Auckland and found at least half were willing to sell canisters of the gas in a range of sizes with virtually no checks.
One vape store sold 1.1L and 3.3L canisters of the gas, for $50 and $150 respectively. It also offered a “combo” price of $170 for the pair.
At another dairy visited by Checkpoint, the shop keeper had a range of products available to buy – from packs of the small, silver tubes of nitrous oxide to the larger, thermos-sized 1.1L canister. The shop-keeper also said the 1.1L was the most popular size.
Several dairies offered packs of the silver tubes, with prices ranging from $10 for the 10-pack to about $60 for a 50-pack.
The gas was also available to purchase on its own, without cream dispensers. Only one dairy clarified verbally that the canisters were only to be “used for baking”.
Nitrous oxide products available to purchase one of the stores visited by Checkpoint in Auckland. RNZ / Teuila Fuatai
Doctors and community leaders have been particularly concerned about the availability of the thermos-sized 1.1L and 3.3L canisters.
Dr Nicholas Jones is the medical officer of health in Hawke’s Bay, where two cases of nerve damage have recently been linked to huffing of nitrous oxide.
At a recent community meeting on the issue, he said people were alarmed to hear that recycling services in the region were collecting around 300kg of empty canisters a fortnight.
That does suggest “there’s quite a significant amount of this being used”, he said.
Large canisters of nitrous oxide can be easily purchased. Supplied
While nitrous oxide has traditionally been viewed at the lower end of the harm-spectrum for psychoactive substances, Jones highlighted the potential risks around large amounts of the gas being accessible and available.
“What seems to have changed recently is the availability of these large canisters, you know, up to 3.3L of gas, whereas in the past people may have used the small silver canisters about, I think it’s about 8 grams or something, a relatively low amount.”
“You’re able to then actually access 3.3L, you could be using it for a prolonged period of time over a long period of time.”
That increased risks significantly, he said.
Dr Nicholas Jones. RNZ / Anusha Bradley
“Although it’s not known for being a drug that causes, you know, psychological dependence, obviously the longer you use it and the more you use it, the higher the risk of, you know, becoming dependent on it.
“With chronic use you can start developing nerve damage associated with vitamin B12 deficiency.”
He suspected this could become more common, especially as people may not understand the risks of nitrous oxide-use.
“One of the problems is that people may be ringing up with concerns, health concerns, but not necessarily identifying the fact that they’re associated with, you know, the use of nitrous oxide.”
Checkpoint also spoke to a woman whose adult child became a heavy user of nitrous oxide last year.
The woman asked to remain anonymous but wanted to share her family’s experience in the hope more could be done to prevent abuse of the substance.
She said her daughter became hooked the gas and was using the large, thermos-sized canisters.
It caused physical problems for her daughter like anaemia, numbness in the her fingers and toes, and issues with bumping into things, she said.
Her daughter also ended up in hospital because of nerve damage, and the addiction had severe mental health impacts and led to self-harm.
The woman said the family found the gas was being purchased from a vape store.
When they went in to see what checks were in place, they found customers were asked to write down their name and the intended use for their purchase on a piece of paper.
She said people had written down names like “John Smith” and that they wanted the gas for a “21st birthday cake”
The woman said police investigated the store, which was eventually closed down. However, she remained concerned about the availability of the gas, and pointed out the closed-vape shop was simply one outlet selling nitrous-oxide products.
She also said her daughter had recovered after quitting “cold turkey” and getting help. The family now want the government to be more proactive and shut down illegal sales.
For anyone affected by issues discussed in this story, free call or text 1737 any time to speak to a trained counsellor. Or call 0800 Lifeline or text HELP to 4357.
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
LiveNews: https://livenews.co.nz/2026/02/12/how-accessible-are-nangs-an-rnz-investigation-found-out/
The Decade That Matters: New Research Shows Which Decade Men Must Prioritise Heart Health (it’s their 30s!)
Source: Exercise NZ
“We now know the decade when men should and need to start prioritising heart health as preventative measures, and that decade is their 30s… The actions men take, or don’t take, during this period can determine their cardiovascular health for the rest of their lives.”
“The good news is that even if you missed your 30s, starting now still delivers powerful benefits, right up till your 80s”
“Exercise isn’t just about fitness or appearance, it’s one of the most powerful forms of preventative medicine available… The earlier men prioritise movement, the greater the protective effect. The message is simple: don’t wait for symptoms. Prevention starts now.”
New international research has identified a clear turning point in men’s heart health, and it’s earlier than most expect.
A long-term study from Northwestern University has found that men’s risk of heart disease begins accelerating significantly from around age 35, establishing the mid-30s as a critical decade for prevention.
“We now know the decade when men should and need to start prioritising heart health as preventative measures, and that decade is their 30s,” says Exercise New Zealand Chief Executive Richard Beddie.
“The actions men take, or don’t take, during this period can determine their cardiovascular health for the rest of their lives.”
The study tracked cardiovascular risk across adulthood and found men reach clinically significant risk levels earlier than women, even when traditional risk factors are accounted for. This reinforces the importance of early lifestyle-based prevention, particularly regular physical activity.
International evidence consistently shows exercise improves blood pressure, cholesterol levels, insulin sensitivity, and body composition, while increasing cardiorespiratory fitness, one of the strongest predictors of longevity and reduced heart disease risk.
However, many men reduce their activity levels during their 30s due to work demands, parenting, and time pressures, precisely when prevention is most effective. Importantly, Exercise New Zealand emphasises that while the 30s represent an optimal window for prevention, it is never too late to benefit from exercise.
This ground-breaking research is particularly concerning given current participation levels in Aotearoa. According to the latest Ministry of Health survey, less than half of all adults meet the recommended physical activity guidelines. Additionally, only around half of all men achieve the minimum level of exercise needed to protect their heart health and reduce their risk of chronic disease.
“The good news is that even if you missed your 30s, starting now still delivers powerful benefits,” says Beddie. Research highlighted in ScienceDaily consistently shows that improving fitness at any age, even into your 70s and 80s, can significantly reduce the risk of heart disease and extend quality of life. While the 30s are an ideal time to begin prioritising heart health, the most important thing is simply starting, wherever you are now. The human body responds positively to movement at any age.
What Men Should Be Doing: Before, During, and After Their 30s
Exercise New Zealand is encouraging men to view their 30s as a pivotal opportunity to protect their future health, with clear guidance across life stages:
Before your 30s: Build the habit
Establish regular physical activity as part of your identity and lifestyle. Consistency is more important than intensity.
During your 30s: Protect your future
Prioritise structured exercise, grow muscle mass, and support cardiovascular fitness. This is the decade where prevention has the greatest long-term impact.
After your 30s: Maintain and strengthen
Continue regular exercise to slow age-related decline, protect heart function, prioritise growing/maintaining muscle mass to maintain independence and quality of life.
“Exercise isn’t just about fitness or appearance, it’s one of the most powerful forms of preventative medicine available,” says Beddie. “The earlier men prioritise movement, the greater the protective effect. The message is simple: don’t wait for symptoms. Prevention starts now.”
LiveNews: https://livenews.co.nz/2026/02/12/the-decade-that-matters-new-research-shows-which-decade-men-must-prioritise-heart-health-its-their-30s/
Slavery victims tell of their years-long ordeal
Source: Radio New Zealand
Moeaia Tuai was sentenced to jail for more than 16 years on Thursday. RNZ / Marika Khabazi
This story discusses details of slavery and sexual abuse.
Two young people have told how they were held in slavery by an Auckland man for several years.
Former prison officer Moeaia Tuai, who is 63, was found guilty by a jury last year of two charges of slavery, two counts of rape and a string of other sexual assaults. He was on Thursday jailed for more than 16 years.
In a victim statement, one of the complainants said he took her youthful happiness, her voice and virginity, and she sometimes felt like her soul had left her body. “A lot of the time, I wish I wasn’t here,” she said, adding she wished she was living a normal girl’s dreams and living her life.
“But sadly, instead, I am one of those girls fighting demons and emotions I don’t deserve, every day,” she said.
“I find it very hard to communicate with others because I was always stopped from speaking with anyone and everyone… I often have flashbacks that just hold me back and I’d rather be home alone.
“To hear my mother’s heartbreak after 10 plus years of being kept apart – my mother’s first time in New Zealand was for a court case.”
She described Tuai and his relatives as a “narcissistic and hypocritical family”.
Suppression orders prevent any information likely to identify the victims from being published.
The second victim, a young man, spoke through tears about the good Samaritans who helped him when he ran away, frightened and not able to sleep at night.
The High Court in Auckland was packed with family and friends of Tuai and his victims, with several crying while the details of the offending were read out.
‘False testimony’
“My parents are now trying to rebuild the good life that was broken because of these people… A glass that has been shattered into tiny pieces cannot be put back together again.”
He spoke through an interpreter to the defendant and his relatives – some of whom gave evidence to the jury, but also faced allegations during the trial that they too were involved in the offending.
“To anyone who has given false testimony here, I pray that you feel repentance in your heart. A glass that has been shattered into tiny pieces cannot be put back together again.”
Only Tuai has been charged in connection to the offending, which occurred from 2016 to 2024.
The court heard he might face poor treatment, and need to be segregated if prisoners found out he was a Corrections officer.
Justice Michele Wilkinson-Smith was asked to consider whether Tuai could have a shorter sentence because of that, and also due to the effect his sentence would have on his sick wife. She granted a small reduction to the jail term – and noted his wife had also benefited from the offending.
Funding Tuai’s lifestyle
Sentencing Tuai, Wilkinson-Smith said the older complainant had been assured before arriving in New Zealand that he could finish his secondary school education, but he was immediately put to work at a boarding lodge that his wife’s sister owned.
After moving to Australia, Tuai took control of the male complainant’s internet banking, his bank card and passport, allowing him only $100 of his weekly pay for full-time work.
“He was funding your lifestyle,” she told Tuai, saying that only ended when the man ran away and managed to get a new passport to return to New Zealand.
Tuai, his wife and the second victim also returned to New Zealand, where she was told she could not go to school – and instead must supplement his state benefits by working cash in hand jobs.
“At one point, the female victim worked 57 consecutive days without a single day off, including weekends,” Wilkinson-Smith said.
“The evidence for that came from your own diary which recorded her working hours…You were using her as a source of labour and income, as you had previously used the male complainant. She had no autonomy and no access to the money she was earning.”
When she had a formal job, her estimated (lost) wages were $80,000.
Saddled with debts
She was ‘treated as property in every way’ by Tuai, who made her work for free, have sex with him, controlled her movements and restricted her ability to get help or report him.
Before he raped her, he bought alcohol to ply her with, using money from her own bank account.
“It is clear that as far as you were concerned, she was in New Zealand only for your benefit,” Wilkinson-Smith added.
He felt entitled to the money the two earned, ‘drained their bank accounts’ and threatened them with deportation, she said, leaving them saddled with debts through loans they were forced to take out.
Both young people suffered threatened and actual violence, and were told they would lose the right to stay in New Zealand if they did not “obey his orders” or alerted authorities.
The judge said slavery was not a “cultural misunderstanding” and she was worried about how widespread it might be.
“I hope that this case highlights for others that this is slavery. It is not legal. You cannot bring people to New Zealand to exploit them for their labour and income.”
Where to get help:
- Need to Talk? Free call or text 1737 any time to speak to a trained counsellor, for any reason
- Lifeline: 0800 543 354 or text HELP to 4357
- Suicide Crisis Helpline: 0508 828 865 / 0508 TAUTOKO. This is a service for people who may be thinking about suicide, or those who are concerned about family or friends
- Depression Helpline: 0800 111 757 or text 4202
- Samaritans: 0800 726 666
- Youthline: 0800 376 633 or text 234 or email talk@youthline.co.nz
- What’s Up: 0800 WHATSUP / 0800 9428 787. This is free counselling for 5 to 19-year-olds
- Asian Family Services: 0800 862 342 or text 832. Languages spoken: Mandarin, Cantonese, Korean, Vietnamese, Thai, Japanese, Hindi, and English.
- Rural Support Trust Helpline: 0800 787 254
- Healthline: 0800 611 116
- Rainbow Youth: (09) 376 4155
- OUTLine: 0800 688 5463
- Aoake te Rā bereaved by suicide service: or call 0800 000 053
If it is an emergency and you feel like you or someone else is at risk, call 111.
Sexual Violence
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
LiveNews: https://livenews.co.nz/2026/02/12/slavery-victims-tell-of-their-years-long-ordeal/
Maritime NZ statement on Vega seafarers
Source: Maritime New Zealand
Maritime NZ takes the welfare of seafarers extremely seriously. We will continue to monitor the situation closely and will take any action necessary to ensure compliance with all applicable international and domestic maritime regulations.
We understand from the vessel’s Master and agent that the crew are adequately provisioned and are doing well. We are making general enquiries with crew and relevant authorities regarding their wellbeing and will continue to monitor the situation.
As is the case for any foreign ship in New Zealand waters, if anyone has concerns about crew welfare, Maritime NZ asks them to notify us. Notifications can be made by seafarers or others via the homepage of our website: .
LiveNews: https://livenews.co.nz/2026/02/12/maritime-nz-statement-on-vega-seafarers/
NZ-AU: LHM Investor Site Visit Presentation
Source: GlobeNewswire (MIL-NZ-AU)
PERTH, Australia, Feb. 11, 2026 (GLOBE NEWSWIRE) — Paladin Energy Ltd (ASX:PDN, TSX:PDN, OTCQX:PALAF) (“Paladin” or the “Company”) advises that it has released a presentation for the Langer Heinrich Mine (LHM) investor site visit being held on 12 February 2026, in Namibia.
The presentation is available on the Company’s website (https://www.paladinenergy.com.au/investors/asx-announcements/).
This announcement has been authorised for release by the Board of Directors of Paladin Energy Ltd.
Contacts
About Paladin
Paladin Energy Ltd (ASX:PDN TSX: PDN OTCQX:PALAF) is a globally significant independent uranium producer with a 75% ownership of the world-class long life Langer Heinrich Mine located in Namibia. In late 2024 the Company acquired Fission Uranium Corp. in Canada, resulting in a dual-listing on the both the ASX and TSX. With the integration of Fission’s operations, the Company now owns and operates an extensive portfolio of uranium development and exploration assets across Canada, which include the Patterson Lake South (PLS) Project in Saskatchewan and the Michelin project in Newfoundland and Labrador. Paladin also owns uranium exploration assets in Australia. Paladin is committed to a sustainability framework that ensures responsible, accountable and transparent management of the uranium resources the Company mines – both now and in the future. Through its Langer Heinrich Mine, Paladin is delivering a reliable uranium supply to major nuclear utilities around the world, positioning itself as a meaningful contributor to baseload energy provision in multiple countries and contributing to global decarbonisation.
– Published by The MIL Network
LiveNews: https://livenews.co.nz/2026/02/12/nz-au-lhm-investor-site-visit-presentation/
Reserve Bank review set for completion in September, originally due to be done by March
Source: Radio New Zealand
The independent review will look at the Reserve Bank’s response to the pandemic. RNZ / Alexander Robertson
A review into the Reserve Bank’s monetary policy decisions during the Covid-19 pandemic was originally intended to be completed by March.
The Finance Minister says the delay was due to how long it took to appoint the right people to lead the review.
On Wednesday, Nicola Willis confirmed she had commissioned an independent review into the Reserve Bank’s response to the pandemic, including cuts to the Official Cash Rate, and the Large Scale Asset Purchase programme.
The opposition has criticised the government for the timing of the review, given it is set to be published in September, just weeks before the election.
The review will be led by monetary policy experts Athanasios Orphanides and David Archer.
Orphanides was a former governor of the Central Bank of Cyprus, and member of the Governing Council of the European Central Bank.
Archer was a former Reserve Bank assistant governor and former head of the Central Banking Studies Unit at the Bank for International Settlements in Basel, Switzerland.
On Thursday, the Treasury released a series of documents related to the review’s establishment, which show Willis first informed the Reserve Bank in July 2025 she was considering a review, and took the matter to Cabinet for sign-off in August 2025.
At the time, Willis expected the review would be completed by March 2026.
The documents also show parts of the review’s terms of reference were changed to factor in the benefits of its decisions, after a suggestion from the Reserve Bank.
Why the delay?
Willis told RNZ the hold-up was due to the appointment of the international reviewer.
She said following the Cabinet mandate, it was her job to find the appropriate reviewers, with Treasury making recommendations.
“First, people we approached weren’t available in the appropriate timeframe. We then had a challenge where one reviewer we proposed was available in the timeframe, but another wasn’t. And so we were both trying to balance getting a balance of someone with domestic perspective and international perspective, the appropriate international credentials, and being available for their time period,” she said.
“So there was a bit of a back and forth on finding appropriate reviewers. And at all times, I was very mindful of Treasury advice on the credentials that they needed to fulfil.”
Finance Minister Nicola Willis says the delay was due to the appointment of the international reviewer. RNZ / Samuel Rillstone
Willis said it was “frustrating,” but ultimately felt the most important thing for the credibility of the review was the quality of the reviewers.
“I’m satisfied that we’ve landed on very credible reviewers. No one’s questioning their authority, their credibility. Clearly, these are people who are independent. There’s not a political bone about them.”
The Cabinet minute shows Willis had the authorisation to approve the selection of the experts and make changes to the terms of reference, in consultation with the associate finance ministers.
What do the documents say?
In a letter dated 10 July 2025 and sent to then-Reserve Bank chair Neil Quigley and Governor Christian Hawkesby, Willis said the Monetary Policy Committee took “unprecedented” actions in response to the “significant economic challenges” caused by the pandemic.
She acknowledged the Bank’s review and assessment of its monetary policy performance between 2020 and 2022, which commissioned independent experts to provide peer review but was not independent of the Bank.
“As such, I am considering an external review to provide the Government with an independent perspective on the MPC’s performance during 2020 to 2022. This will ensure there is appropriate transparency over the MPC’s performance during a period of significant economic challenges, and will help identify lessons for future episodes of instability,” she wrote.
Feedback from then Governor Christian Hawkesby about changing the terms of reference were taken on board. RNZ / Dom Thomas
In response, Hawkesby said the Bank had made “significant progress” in implementing the recommendations of the 2022 review, but would fully cooperate with the external review if Willis chose to proceed with it.
Hawkesby had suggested the draft terms of reference be amended, particularly a section on whether the “stimulus” provided by the Large Scale Asset Purchase and Funding for Lending programmes “justified the risks to the public balance sheet and other costs”.
“We note that this frames the benefits and costs associated with these tools in narrow terms and should be widened to capture the impact LSAPs played in stabilising markets, and their broader fiscal benefits through lowering Crown borrowing costs and increasing tax revenue,” he wrote.
This feedback was taken onboard, with the final terms of reference changed to reviewing whether the “benefits” provided by the programmes “justified the risks and costs”.
Hawkesby also raised another section which referred to the review making “recommendations to improve the monetary policy response to future shocks, including commentary around potential changes to the frameworks, having regard to the benefits of hindsight”.
He said the Monetary Policy Committee’s remit was an important part of the policy framework, and while it could be reviewed at any time there were benefits to stability in the objectives of monetary policy.
“We suggest that any recommendations related to the objectives of monetary policy would be best addressed as part of the 5-yearly formal review of the MPC Remit, which is due by mid-2028.”
This was not changed.
On 9 February she told the new chair Rodger Findlay and new Governor Anna Breman that the government had finalised the establishment of the review, with the final terms of reference showing the new expected completion date of August.
“Independent monetary policy is a central pillar of New Zealand’s macroeconomic frameworks. The review strengthens this by supporting accountability and public confidence in the operational independence of monetary policy and informing its ongoing effectiveness,” Willis wrote.
She told Findlay and Breman she had adopted the Bank’s suggestion to broaden the review’s assessment of the costs and benefits of alternative monetary policy.
Willis told RNZ she thought it was important to engage with the Bank about how to get the best lessons out of the review.
“I think the final terms of reference allow for a full and penetrating review. So the questions will be asked, the information will be furnished, and those reviewers will be able to reach conclusions.”
She said it was up to former governor Adrian Orr and former chair Neil Quigley to decided if they wanted to front up to the inquiry, but said “if they’re wise, they will.”
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
LiveNews: https://livenews.co.nz/2026/02/12/reserve-bank-review-set-for-completion-in-september-originally-due-to-be-done-by-march/
Is it time for the All Blacks to have a Pasifika coach?
Source: Radio New Zealand
A former All Black believes it’s time for a Pacific Islander to take the reins as New Zealand coach.
In 2024, players with Pacific Island heritage made up 14 of the 32-man All Blacks squad, with Christian Lio-Willie, Timoci Tavatavanawai and Du’Plessis Kirifi earning caps in 2025.
Star Moana Pasifika signing Ngani Laumape wants to see Tana Umaga given the job in the wake of Scott Robertson’s sacking in January.
With such a predominant Pasifika contingent in the squad, Laumape said it’s time for a cultural change and that Umaga is the inspirational leader needed.
“For sure. 100 percent. When ‘T’ speaks, everyone listens. When he talks about our purpose, it gives me goosebumps. When he talks like that, the boys are pretty revved up to go out and play for him. I feel like he’ll be an awesome coach for the All Blacks.”
Fellow former All Black Sonny Bill Williams also touted Umaga as the man for the role.
Tana Umaga has been touted by former All Blacks as the ideal candidate as Scott Robertson’s replacement. Brett Phibbs / www.photosport.nz
“We need some more flavour in the coaching group. I’m a big believer that in order to correct, you must connect, and these players at this level know how to play rugby. But what got the best out of me was believing in the coaches, wanting to go out there and run through a brick wall,” Williams said on Instagram.
The man himself was coy on the prospect when asked this week, shifting the focus to his side’s round one clash with the Fijian Drua.
“I’ve got a big enough job doing what I’m doing right now.”
Umaga said through the love of his parents and his Māori wife, he is privileged to understand what New Zealand means on “a lot of different levels.”
“I am a very proud New Zealander, born in Aotearoa, but I am passionate about my heritage.”
Like Robertson, Laumape himself also had a tumultuous tenure with the All Blacks, playing just 15 tests and arguably leaving at the peak of his powers in 2021 after being consistently overlooked.
Ngani Laumape. PHOTOSPORT
However, Laumape said he has put that chapter of his career to bed.
“I feel like it doesn’t matter if you played one game or 100, you still achieved that jersey. You still achieve that dream of representing the All Blacks. But I think for me now, I’ve closed that chapter and It’s been an awesome journey being overseas the last couple of years, but it’s really refreshing being back representing Moana.”
The powerful midfielder is now setting his sights on representing Tonga at next year’s World Cup.
“You can have more than one dream, and for me, I I still have one more goal that I want to achieve in my rugby career and that’s representing Tonga and I feel like this is the closest way that I can build to that dream.”
As the big name signing for Moana, Laumape said he won’t be trying to replicate the influence of Ardie Savea in 2025.
“I don’t think anyone can fill those shoes, but I think for me what he did not only inspired the young Pasifika kids but also inspired a whole generation of old and young and I just want to credit my brother for being the leader that he is.”
Laumape said he was annoyed by the narrative surrounding Savea and Robertson’s departure.
“I’ve seen that he’s been getting a lot of backlash in the media, there’s more people that were in those meetings and I feel like it’s pretty bull crap that only his name was out there and I know there’s probably about 10 players in that leadership group who were also in that review, and if one name comes out, all of them should come out.”
As for the season ahead, Laumape said they are far from a one man band and will not let the standards set by Savea in 2025 drop.
“We’re not here to make numbers. We’re here to carry on what the boys did last year.”
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
LiveNews: https://livenews.co.nz/2026/02/12/is-it-time-for-the-all-blacks-to-have-a-pasifika-coach/
Milestone health and safety bill passes first reading
Source: New Zealand Government
Workplace Relations and Safety Minister Brooke van Velden has welcomed the passing of the first reading of the Health and Safety at Work Amendment Bill, which will reform New Zealand’s work health and safety law and regulations.
“The changes in this Bill will make it easier to run a business in New Zealand by increasing certainty and removing fear, helping to ease costs of compliance and improve safety outcomes,” says Ms van Velden.
The Bill addresses concerns businesses had in two key ways. First, by increasing available guidance and support through a strengthening of Approved Codes of Practice (ACOPs) giving businesses access to guidance that is tailored to their own industries and easier to keep up to date than regulations.
“ACOPs will now act as ‘safe harbours’ for compliance, meaning that if a business complies with their sector’s ACOP, they have done enough to meet their health and safety requirements.
“Secondly, the Bill will clarify WorkSafe’s functions.
“A major theme in the feedback we received from businesses was that they don’t know what they need to do to manage their risks and meet their obligations. I also heard concerns about a lack of guidance, regulations not keeping pace with best practice, and uncertainty about WorkSafe’s approach as the regulator arising due to inconsistency and heavy-handedness in punishment.
“This all results in a feeling of fear and uncertainty that leads businesses to take unnecessary actions to protect themselves, creating more costs to the business without actually making workers any safer.
“The Bill will require WorkSafe to move from an approach of expecting everyone to address every possible risk, towards one in which WorkSafe provides guidance on the critical risks a workplace must address to meet their obligations under the Act.
“I expect this will significantly help businesses to understand their responsibilities and give clarity about the actions they should take to protect their workers,” says Ms van Velden.
“This new focus will make WorkSafe a more consistent and helpful agency, so that businesses can get the support they need to keep workers safe, without wasting resources on external consultants or excessive paperwork compliance.
“I’m looking forward to hearing feedback, particularly around whether these changes are clear and workable, once the Bill opens for submissions at select committee.
“Today is a win for practical, common-sense changes that will set businesses up for success in keeping people safe,” says Ms van Velden.
Note to Editors:
Other changes include:
- Creating a carve-out for small, low-risk businesses from general Health and Safety at Work Act requirements. These businesses will only have to manage critical risks and provide basic facilities to ensure worker welfare.
- Clarifying what a director’s health and safety due diligence duty involves and where it stops.
- Many directors think they need to do more than they should, and directors and management are also duplicating work. This change clarifies that the day-to-day management of health and safety risks is to be left to managers so directors can focus on governance.
- Clarifying that businesses do not owe health and safety duties to individuals engaging in recreational activities on their land, unless the business has work happening on the same part of the land at the same time.
- This will ensure that landowners will not be responsible if someone is injured on their land while doing recreational activities and that health and safety responsibilities will lie squarely on the organisation running the activities.
LiveNews: https://livenews.co.nz/2026/02/12/milestone-health-and-safety-bill-passes-first-reading/
NZ-AU: December 2025 Half Year Financial Results Overview
Source: GlobeNewswire (MIL-NZ-AU)
PERTH, Australia, Feb. 11, 2026 (GLOBE NEWSWIRE) — Paladin Energy Ltd (ASX:PDN, TSX:PDN, OTCQX:PALAF) (“Paladin” or the “Company”) advises that it has released its December 2025 Half Year Financial Accounts and Management Discussion and Analysis (MD&A) for Paladin Energy Ltd and its controlled entities for the three and six month periods ended 31 December 2025 (“FY2026 Interim Financial Results”).
Half Year Highlights
- Revenue of US$138.3M driven by strong sales of 1.96Mlb U₃O₈ at an average realised price of US$70.5/lb U₃O₈1, reflecting the quality of the Langer Heinrich Mine (LHM) contract book and strengthening uranium pricing environment
- Cost of sales totalled US$112.3M in the period, reflecting the continued ramp up of production at LHM
- Gross profit of US$26.0M for the period, a significant increase from previous period
- Net loss after tax of US$6.6M driven by the ongoing production ramp-up at LHM, business expansion following the Fission Uranium Corp (now Paladin Canada Inc.) acquisition and TSX listing and financing activities
- Successful completion of a fully underwritten A$300M equity raising and a A$100M share purchase plan (SPP), primarily to advance the development of the Patterson Lake South (PLS) Project towards a final investment decision alongside the ongoing ramp up of the LHM
- Enhanced balance sheet following completion of the equity offering, and the restructure of the syndicated debt facility with cash and investments of US$278.4M and an undrawn US$70M Revolving Credit Facility at year end
“The first half of the year demonstrated strong and continually improving performance at Langer Heinrich Mine as our team increased its knowledge and experience of how to optimise the production process, including the mining activities that were gathering pace at the start of this financial year. With the remaining mining fleet arriving on site, the foundations are now in place to successfully complete our ramp-up at Langer Heinrich Mine during the remaining months of the year.
The half year results also highlight the robust financial position of Paladin Energy with increasing revenue from strong sales augmented by a successful equity raising and a restructure of the debt portfolio that will enable us to complete our ramp-up activities at the LHM and continue to progress the PLS Project in Canada, including our winter drilling program.”
Paul Hemburrow
Managing Director and Chief Executive Officer
Financial Performance
| Key Operational and Financial Metrics | Units | Six Months Ended 31 December 2025 |
|
| OPERATIONS2 | |||
| U₃O₈ Sold | Mlb | 1.96 | |
| Average Realised Price1 | US$/lb | 70.5 | |
| Cost of Production3 | US$/lb | 40.5 | |
| EARNINGS | |||
| Sales Revenue | US$M | 138.3 | |
| Cost of Sales | US$M | 112.3 | |
| Gross Profit | US$M | 26.0 | |
| Loss After Tax | US$M | (6.6) | |
LHM sold 1.96Mlb of U₃O₈ at an average realised price of US$70.5/lb, generating sales revenue of US$138.3M. Cost of sales totalled US$112.3M, reflecting the continued ramp up of production, with a higher proportion of mined ore fed into the plant resulting in higher production and sales volumes.
This resulted in an increased gross profit for the period of US$26.0M (H1FY2025: US$0.9M).
Net loss after tax of US$6.6M (H1FY2025:US$15.1M) was driven by the ongoing production ramp-up at LHM, business expansion following the Fission Uranium Corp (now Paladin Canada Inc.) acquisition, TSX listing and financing activities.
Financial Position
| 31 December 2025 | 30 June 2025 | Change % |
|||||
| Cash and cash equivalents | US$M | 121.0 | 89.0 | 36% | |||
| Short-term investments | US$M | 157.4 | – | n.m4 | |||
| Total unrestricted cash and investments | US$M | 278.4 | 89.0 | 213% | |||
| Debt Facility (Drawn)5 | US$M | (40.0) | (86.5) | 54% | |||
| Net Cash/(Debt)6 | US$M | 238.4 | 2.5 | 9,260% | |||
| Total Equity | US$M | 1,051.9 | 801.6 | 31% | |||
Total unrestricted cash and investments increased by 213% during the period to US$278.4M (30 June 2025: US$89.0M), following the successful completion of a fully underwritten A$300M equity offering and a A$100M share purchase plan (SPP) (both before transaction costs).
On 19 December 2025, Paladin completed the restructure of its Debt Facility with its lenders, Nedbank Ltd (acting through its Nedbank Corporate and Investment Banking division), Nedbank Namibia Ltd and Macquarie Bank.
The restructure aimed to right-size the overall debt capacity, reducing it from US$150M to US$110M leveraging Paladin’s enhanced liquidity position following the successful completion of the equity raise and SPP. The restructure also reflects Paladin’s increasing maturity as a uranium producer as it continues to progress the ramp up at LHM, while providing greater undrawn debt capacity and balance sheet flexibility.
The restructure provides Paladin with a US$110M Debt Facility including a US$40M Term Loan Facility (following a repayment of US$39.8M as part of the restructure) and an undrawn Revolving Credit Facility of US$70M (US$50M prior to the restructure). No additional debt was drawn during the period.
Presentation of information
This announcement should be read in conjunction with the Condensed Interim Financial Report lodged on 11 February 2026 and available on Paladin’s website (https://www.paladinenergy.com.au/investors/asx-announcements/). The Condensed Interim Financial Report relates to the six month period ended 31 December 2025. This Condensed Interim Financial Report also includes information relating specifically to the three month period ended 31 December 2025, which has been included in this Condensed Interim Financial Report to comply with quarterly reporting disclosure requirements of the Toronto Stock Exchange. Further information regarding the inclusion of the 31 December 2025 quarterly information is included in Note 1 to the Condensed Interim Financial Report.
This announcement has been authorised for release by the Board of Directors of Paladin Energy Ltd.
Contacts
About Paladin
Paladin Energy Ltd (ASX:PDN TSX: PDN OTCQX:PALAF) is a globally significant independent uranium producer with a 75% ownership of the world-class long life Langer Heinrich Mine located in Namibia. In late 2024 the Company acquired Fission Uranium Corp. in Canada, resulting in a dual-listing on the both the ASX and TSX. With the integration of Fission’s operations, the Company now owns and operates an extensive portfolio of uranium development and exploration assets across Canada, which include the Patterson Lake South (PLS) Project in Saskatchewan and the Michelin project in Newfoundland and Labrador. Paladin also owns uranium exploration assets in Australia. Paladin is committed to a sustainability framework that ensures responsible, accountable and transparent management of the uranium resources the Company mines – both now and in the future. Through its Langer Heinrich Mine, Paladin is delivering a reliable uranium supply to major nuclear utilities around the world, positioning itself as a meaningful contributor to baseload energy provision in multiple countries and contributing to global decarbonisation.
Forward-looking statements
This document contains certain “forward-looking statements” within the meaning of Australian securities laws and “forward-looking information” within the meaning of Canadian securities laws (collectively referred to in this document as forward-looking statements). All statements in this document, other than statements of historical or present facts, are forward-looking statements and generally may be identified by the use of forward-looking words such as “anticipate”, “expect”, “likely”, “propose”, “will”, “intend”, “should”, “could”, “may”, “believe”, “forecast”, “estimate”, “target”, “outlook”, “guidance” and other similar expressions. These forward-looking statements include, but are not limited to, statements regarding continued development of the PLS Project; permitting approvals and community engagement; advancement of the PLS Project through to FID; development and ramp-up of operations at the LHM; LHM guidance for FY2026; the equity offering; debt and related restructurings and the receipt of all necessary regulatory approvals.
Forward-looking statements involve subjective judgment and analysis and are subject to significant uncertainties, risks and contingencies including those risk factors associated with the mining industry, many of which are outside the control of, change without notice, and may be unknown to Paladin. These risks and uncertainties include but are not limited to liabilities inherent in mine development and production, geological, mining and processing technical problems, the inability to obtain any additional mine licences, permits and other regulatory approvals required in connection with mining and third party processing operations, Indigenous Peoples’ engagement, competition for amongst other things, capital, acquisition of reserves, undeveloped lands and skilled personnel, incorrect assessments of the value of acquisitions, changes in commodity prices and exchange rates, currency and interest fluctuations, various events which could disrupt operations and/or the transportation of mineral products, including labour stoppages and severe weather conditions, the demand for and availability of transportation services, the ability to secure adequate financing and management’s ability to anticipate and manage the foregoing factors and risks. Readers are also referred to the risks and uncertainties referred to in the Company’s “2025 Annual Report” released on 28 August 2025, in Paladin’s Annual Information Form for the year ended June 30, 2025 released on 12 September 2025, and in Paladin’s Management’s Discussion and Analysis for the quarter ended December 31, 2025, released on 11 February 2026, each of which is available to view at paladinenergy.com.au and on www.sedarplus.ca.
Although as at the date of this document, Paladin believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from the expectations expressed in such forward-looking statements due to a range of factors including (without limitation) fluctuations in commodity prices and exchange rates, exploitation and exploration successes, environmental, permitting and development issues, political risks including the impact of political instability on economic activity and uranium supply and demand, Indigenous Peoples engagement, climate risk, operating hazards, natural disasters, severe storms and other adverse weather conditions, shortages of skilled labour and construction materials, equipment and supplies, regulatory concerns, continued availability of capital and financing and general economic, market or business conditions and risk factors associated with the uranium industry generally. There can be no assurance that forward-looking statements will prove to be accurate.
Readers should not place undue reliance on forward-looking statements, and should rely on their own independent enquiries, investigations and advice regarding information contained in this document. Any reliance by a reader on the information contained in this document is wholly at the reader’s own risk. Recipients are cautioned against placing undue reliance on such projections without conducting their own due diligence with appropriate professional support. The forward-looking statements in this document relate only to events or information as of the date on which the statements are made. Paladin does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise. No representation, warranty, guarantee or assurance (express or implied) is made, or will be made, that any forward-looking statements will be achieved or will prove to be correct. Except for statutory liability which cannot be excluded, Paladin, its officers, employees and advisers expressly disclaim any responsibility for the accuracy or completeness of the material contained in this document and exclude all liability whatsoever (including negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this document or any error or omission therefrom. Except as required by law or regulation, Paladin accepts no responsibility to update any person regarding any inaccuracy, omission or change in information in this document or any other information made available to a person, nor any obligation to furnish the person with any further information. Nothing in this document will, under any circumstances, create an implication that there has been no change in the affairs of Paladin since the date of this document. To the extent any forward-looking statement in this document constitutes “future-oriented financial information” or “financial outlooks” within the meaning of Canadian securities laws, such information is provided to demonstrate Paladin’s internal projections and to help readers understand Paladin’s expected financial results. Readers are cautioned that this information may not be appropriate for any other purpose and readers should not place undue reliance on such information. Future-oriented financial information and financial outlooks, as with forward-looking statements generally, are, without limitation, based on the assumptions, and subject to the risks and uncertainties, described above.
Non-IFRS measures
Paladin uses certain financial measures that are considered “non-IFRS financial information” within the meaning of Australian securities laws and/or “non-GAAP financial measures” within the meaning of Canadian securities laws (collectively referred to in this announcement as Non-IFRS Measures) to supplement analysis of its financial and operating performance. These Non-IFRS Measures do not have a standardised meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other issuers.
The Company believes these measures provide additional insight into its financial results and operational performance and are useful to investors, securities analysts, and other interested parties in understanding and evaluating the Company’s historical and future operating performance. However, they should not be viewed in isolation or as a substitute for information prepared in accordance with IFRS. Accordingly, readers are cautioned not to place undue reliance on any Non-IFRS Measures. The Non-IFRS Measures used in this announcement are described below.
Average Realised Price
Average Realised Price (US$/lb U3O8) is a Non-IFRS Measure that represents the average revenue received per pound of uranium sold during a given period. It is calculated by dividing total revenue from U₃O₈ sales (before royalties and after any applicable discounts) by the total volume of U₃O₈ pounds sold. This measure provides insight into the actual pricing achieved under the Company’s uranium sales contracts and spot sales during the reporting period, taking into account the mix of base-escalated, fixed-price and market-related pricing mechanisms within contracts. The Company uses Average Realised Price to assess revenue performance relative to market prices, contractual pricing structures, and production costs. It is also a key measure used by investors and analysts to evaluate price exposure, contract performance, and profitability potential.
It is important to note that Average Realised Price is distinct from both the spot market price and the term market price for uranium, and it may vary significantly from quarter to quarter based on timing of deliveries, customer contract structures, and the prevailing market environment.
Revenue from uranium sales is reported in the Company’s financial statements under IFRS. The Average Realised Price is derived directly from IFRS revenue figures and disclosed sales volumes.
The table below reconciles the Average Realised Price for the quarters ended 31 December 2025 and 31 December 2024:
| Three Months Ended 31 December 2025 |
Six Months Ended 31 December 2025 |
Three Months Ended 31 December 2024 |
Six Months Ended 31 December 2024 |
||
| Sales revenue | US$M | 102.4 | 138.3 | 33.5 | 77.3 |
| U3O8 Sold | lb | 1,426,820 | 1,960,6091 | 500,1432 | 1,123,2072 |
| Average Realised Price | US$/lb | 71.8 | 70.5 | 66.9 | 68.8 |
1. Includes 85,000lb loan material delivered into existing contracts
2. Includes 200,000lb loan material delivered into existing contracts
Cost of Production
The Cost of Production per pound represents the total production costs divided by pounds of U₃O₈ produced. The Cost of Production is calculated as the total direct production expenditures incurred during the period (including mining, stockpile rehandling, processing, site maintenance, and mine-level administrative costs), excluding costs such as cost of ore stockpiled, deferred stripping costs, depreciation and amortisation, general and administration costs, royalties, exploration expenses, sustaining capital and the impacts of any inventory impairments or impairment reversals. This measure helps users assess Paladin’s operating efficiency.
Cost of Production per lb = Cost of Production ÷ U₃O₈ Pounds Produced.
Cost of Production is a unit cost measure that indicates the average production cost per pound of U₃O₈ produced. This is not an IFRS measure but is widely used in the mining industry as a benchmark of operational efficiency and cost competitiveness. Paladin’s Cost of Production metric is calculated as the total direct production expenditures as defined above (in US dollars) incurred during the period, divided by the volume of U₃O₈ pounds produced in the same period. The Company uses Cost of Production per pound to track progress of operational performance, to assess profitability at various uranium price points, and to identify trends in operating costs. It is also a key metric for investors and analysts to evaluate how efficiently the Company is producing uranium, independent of depreciation and accounting adjustments.
This measure allows stakeholders to monitor trends in direct production costs and to assess the Company’s operating breakeven threshold relative to uranium market prices. Investors are cautioned that our Cost of Production metric may not be comparable with similarly titled “C1 cash cost” metrics of other uranium producers, as there can be differences in methodology (e.g., treatment of royalties or certain site costs). Paladin’s Cost of Production figure as defined above, focuses strictly on the on-site cost to produce uranium concentrate in the current period. All figures are in US$/lb U₃O₈. We provide this information in good faith to enhance understanding of our operations; however, the IFRS financial statements (particularly the Cost of Sales line in the income statement) should be considered alongside this metric for a complete picture of our cost structure.
The table below reconciles the Cost of Production for the for the quarters ended 31 December 2025 and 30 December 2024:
| Three Months Ended 31 December 2025 |
Six Months Ended 31 December 2025 |
Three Months Ended 31 December 2024 |
Six Months Ended 31 December 2024 |
||
| Cost of Production | US$M | 48.9 | 93.2 | 26.9 | 53.7 |
| U3O8 produced | lb | 1,233,128 | 2,299,624 | 638,409 | 1,278,088 |
| Cost of Production/lb | US$/lb | 39.7 | 40.5 | 42.3 | 42.1 |
Net Cash/(Debt)
Net Cash/(Debt) is a non-IFRS liquidity measure that represents the surplus of cash and cash equivalents over total interest-bearing debt. It is calculated by subtracting gross debt (including face value and accrued interest on borrowings) from unrestricted cash and cash equivalents. The Company uses Net Cash/(Debt) as an indicator of the Company’s net liquidity position at a point in time, providing a simple measure of financial flexibility after accounting for existing debt obligations. This measure is useful to investors and analysts because it isolates the Company’s net cash or net debt balance, enabling better assessment of balance sheet strength and funding capacity, particularly as it relates to capital allocation decisions and ability to finance operations and growth.
Net Cash/(Debt) is distinct from individual IFRS line items as it combines and offsets gross financial liabilities and cash balances into a single figure. As such, it is classified as a non-IFRS measure.
The table below reconciles the Net Cash/(Debt) at the end of the quarters ended 31 December 2025 and 30 June 2025:
| US$M | As at 31 December 2025 | As at 30 June 2025 | ||
| Cash and Investments | 278.4 | 89.0 | ||
| Borrowings – syndicated debt facility | (40.0) | (86.5) | ||
| Net Cash/(Debt) | 238.4 | 2.5 |
_______________________________________
1 Average Realised Price is a Non-IFRS Measure. See “Non-IFRS Measures” for more information
2 Refers to LHM’s operational results on a 100% basis
3 Cost of Production is a Non-IFRS Measure. See “Non-IFRS Measures” for more information
4 The percentage movement is not meaningful due to nil balance in the prior period
5 Excludes shareholder loans from CNNC Overseas Limited (CNOL) and capitalised transaction costs
6 Net Cash/(Debt) is a Non-IFRS measure. See “Non-IFRS Measures” for more information
– Published by The MIL Network
LiveNews: https://livenews.co.nz/2026/02/12/nz-au-december-2025-half-year-financial-results-overview/
Car of Tekanimaeu Arobati, swept away in Mahurangi River, found
Source: Radio New Zealand
Police found the Nissan X-Trail in the Mahurangi River. NZ POLICE / SUPPLIED
The car of a man who was swept away in the Mahurangi River north of Auckland last month has been found.
Tekanimaeu Arobati disappeared during severe weather on 21 January.
The 47-year-old’s body was found three days later in the river.
Now, police have recovered his SUV from the river.
Police found the Nissan X-Trail in the Mahurangi River. NZ POLICE / SUPPLIED
It was found on Thursday after the police national dive squad was sent in.
Arobati was described as a kind, strong, and straight-talking man who was deeply loved by his family, his brother-in-law Kai Tenanoa earlier told RNZ.
Police said their thoughts were with Arobati’s family and the wider Kiribati community.
His death was being referred to the Coroner.
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
LiveNews: https://livenews.co.nz/2026/02/12/car-of-tekanimaeu-arobati-swept-away-in-mahurangi-river-found/
New Zealand First to campaign on Māori seats referendum
Source: Radio New Zealand
New Zealand First leader Winston Peters speaking at Waitangi Treaty Grounds last week. (File photo) RNZ / Mark Papalii
New Zealand First will campaign on a referendum on the Māori seats this year, with the party saying the time had come for a decision on their future.
Te Pāti Māori said it was “race baiting” and “rage baiting” and Labour said it was a “cheap and cynical” attempt to gain votes.
New Zealand First made the announcement on Thursday, saying it believed it had an “opportunity now” to ensure the policy was implemented after the election.
It’s a policy the party also took to the 2017 election.
On Thursday, NZ First leader Winston Peters referenced the Royal Commission into the electoral system in 1986, which stated the MMP system would create a more representative Parliament and the original justification for the Māori seats would no longer exist.
He also said there’d been a dramatic increase in the number of Māori in Parliament.
“We’re massively over represented. Now please take the advantage that you’ve got, be pleased about that and move on.”
He called Te Pāti Māori’s behaviour over the past two years the “last straw.”
“They hold the majority of the Māori seats and do not turn up to parliament, disregard the rules and processes, and show utter disdain for the system that gives them the very seats they hold – they represent no one.
“They have proven the seats they hold are no longer relevant nor serve their original purpose.”
He referenced outgoing Labour MP Peeni Henare’s losses in the Tāmaki Makaurau seat recently, saying he was “robbed blind” and there was “nothing to defend” in regards to the seats.
Peters said a referendum was necessary because that was how MMP was introduced in the first place.
“I’m saying to people in this country, if you want a dramatic, unified electoral system, vote for it,” he said.
Peters rejected it could be a breach of Te Tiriti o Waitangi “because it wasn’t in there in the first place.”
He said everything he had done for Māori was on the basis of need not race.
Asked how quickly a referendum would take place after this year’s election, Peters indicated he wouldn’t want the Māori seats during the 2029 election.
Politicians react
Te Pāti Māori co-leader Rawiri Waititi accused NZ First of “race baiting”. (File photo) VNP / Phil Smith
Te Pāti Māori co-leader Rawiri Waititi said it was “race baiting” and “rage baiting” to suit New Zealand First voters.
“The types that Winston Peters represents is a dying cohort of people in Aotearoa.
“I would hope that New Zealand is mature enough to see the value in the Māori seats sitting here in Parliament.”
He said the timing of the announcement showed Peters was “threatened” by the fact it would be the Māori electorates that decide the next Prime Minister.
“He likes to sit in that position as the king maker, but unfortunately, every poll is saying that he is no longer in that position.
“This country should be celebrating the maturity of te iwi Māori in this democracy.”
On representation in Parliament, Waititi said the Māori seats allowed for a “unique Māori voice in Parliament.”
“Quite often we’ve had Māori in those Māori seats without being tied to party lines.
“What this allows us is a unique opportunity for Māori to have an independent voice in Parliament.”
Waititi suggested there should be a referendum on list seats, because it wasn’t clear who they represented, “they don’t have a mandate from constituents.”
“The Māori seats are clear. They have a clear mandate.”
Labour’s Kieran McAnulty said Peters was quite happy with Māori seats when he stood for one in 1975, and when New Zealand First won them all in the 90s.
“But now he wants to pretend to New Zealanders that they don’t like them and want to get rid of them. I don’t think Kiwis will buy it.”
Labour’s position was that Māori should decide whether to keep the seats or not, and “that position will remain firm.”
“It’s a cheap and cynical attempt to try and get some cheap votes,” McAnulty said.
Prime Minister Christopher Luxon said a referendum on Māori seats wasn’t something the National party had discussed.
“What we’re really focused on is fixing the basics and building the future at the moment.”
He acknowledged the seats had been a feature of the political system for some time.
National deputy leader Nicola Willis said National planned to run candidates in the Māori seats this election, but no one had been selected yet.
In terms of a referendum, she said the policy would need to be taken to caucus for discussion.
ACT’s deputy leader Brooke van Velden said ACT wouldn’t take it to referendum, it would get rid of the seats through Parliament.
“It’s been an ACT party position – and a longstanding position – that we should abolish the Māori seats, because it goes against what the ACT party philosophy is, which is that there should be all people equal before the law and that it’s wrong to have separate seats based on people’s ethnicity.”
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
LiveNews: https://livenews.co.nz/2026/02/12/new-zealand-first-to-campaign-on-maori-seats-referendum/
New deal paying above market price for regenerative sheep farmers’ wool
Source: Radio New Zealand
RNZ / Nate McKinnon
Regenerative sheep farmers could muster an above-market pay cheque for their sustainable wool clip, thanks to a new industry deal.
Wools of New Zealand signed a new contract to supply American-owned company Keraplast, based in Ōtautahi, with hundreds of tonnes of strong wool over the next five years.
Keraplast extracted keratin, the main protein in wool, that was then used as an ingredient in haircare, skincare, nutraceuticals and medical products.
Wools of New Zealand chief executive John McWhirter said the contract linked growers to high-value end uses, rather than the traditional textile markets based on commodity prices, to improve returns.
“This agreement demonstrates how strong wool can move beyond traditional textile markets into advanced, high-value applications.
“It shows strong wool has a future when we combine quality farming and innovative global manufacturing.”
Regenerative farmers focussed on enhancing the health of their soil, waterways and their animals, practices which were auditted for certified farmers.
The new super-premium wool contract was paying 40 percent or $2 a kilogram above market pricing for 2025, at $6.88 per kilo clean – and prices will increase $0.50 a kilo each year.
Keraplast chief executive, Howard Moore said the deal was about shoring up the supply of low-carbon New Zealand strong wool.
John McWhirter of Wools of New Zealand and Howard Moore of Keraplast. SUPPLIED
“We really do want to encourage the supply of regeneratively-farmed wool, but we also do feel it as an obligation from the company for us to to share in the value that we are adding to wool, sharing that with our farmer suppliers.”
Moore said the wool-only company was committed to net positive, a business strategy about creating more positive impacts than negative on the environment, society and the economy.
He said its industrial American customers were very focussed on sustainability.
Read more
“We sell to industrial customers and these industrial customers are concerned about their carbon footprint,” he said.
“And so we are able to demonstrate to these industrial customers of ours that we are doing our bit to source wool that’s got a reduced carbon footprint.
“That commitment to sustainability through using regeneratively farmed wool does help us with with our customers.”
Overseas competitors making products from keratin instead sourced the protein from chicken feathers, he said.
Moore said its 40 employees were working towards processing up to 100 tonnes of wool each year at its new factory near Hornby.
Since around August, wool prices in the North and South Islands had increased, exceeding levels in 2023 and 2024.
However, the national sheep flock was continuing to decline and major broker PGG Wrightson announced last month it was going to end its historic North Island from May.
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
LiveNews: https://livenews.co.nz/2026/02/12/new-deal-paying-above-market-price-for-regenerative-sheep-farmers-wool/