"We regard this as a $500 million project with a minimum life of 12 years but we'd certainly be looking beyond that time frame," Mr Crossley said.
The company would be looking at employing 200 people. TTR would spend about $150 million a year in operating costs - and that is the money likely to land in key locations onshore, especially those servicing the project.
Two large vessels will work the licence area. One of them would be extracting the sand and the other taking the extracted ironsand to ships taking it to market.
Asked what economic benefits could flow on to Wanganui, Mr Crossley said it was too soon to say but community leaders in New Plymouth and Hawera were posing the same question.
"We're looking to New Plymouth as our port because of the size of vessels it can handle ...
"We'll be recruiting a full range of skilled staff such as electricians and engineers and others with mechanical skills because it's the nature of the work. However, there is a labour pool here [in Wanganui] and we know it is the base for helicopter services," he said.
Allan MacGibbon, the council's economic development manager, said Wanganui was ideally placed in terms of being a helicopter servicing base and providing the raw skills in terms of staff.
"We just need a commitment from Trans-Tasman Resources to keep us privy to their development," Mr MacGibbon said. Mr Crossley said his company had no issues with that but it was still about three years away from production, assuming it gets the necessary consents.
Committee chairman Councillor Rob Vinsen said there would be firms in Wanganui which would be "really aggressive" in seeking business with TTR.
"We know we're competing against New Plymouth and Hawera and we need to get our share of it," Mr Vinsen said.
Mr Crossley said the company's focus was now on community engagement.
"It will always be a struggle without the community on board and we know there are groups out there who do not agree with what we're planning."
He said 85 per cent of the mining application was outside the 12-nautical-mile economic zone, although that might change over time depending on the success of the operation.
He said consents are expected to be in place by 2014 with production starting in 2016.
"We're only temporary users of the seabed. Once we've gone over one block we don't go back over it later."