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OceanaGold Corporation (OceanaGold) is a multinational, mid-tier gold mining company with significant global operating, development and exploration experience.

OceanaGold Corporation
Public
Traded as
IndustryGold Mines
Founded1989
Headquarters,
Key people
Mick Wilkes, CEO
Websitewww.oceanagold.com

OceanaGold’s operating assets are located in the Philippines, New Zealand and the United States and include: the Didipio Gold-Copper Mine on Luzon Island in the Philippines; the Macraes Goldfield Mine in the South Island of New Zealand; the Waihi Gold Mine in the North Island of New Zealand; and the Haile Gold Mine located in South Carolina, United States of America.

OceanaGold is publicly listed on the Toronto Stock Exchange (TSX) and the Australian Securities Exchange (ASX) under the ticker ‘OGC’.[1]

ProductionEdit

2017 was a record year of financial and operating performance for OceanaGold. For the sixth consecutive year the company achieved their full-year production and cost guidance, producing 574,606 ounces of gold, 18,351 tonnes of copper, and delivering a record revenue of $724 million (net profit after tax of $172 million).[2]

OperationsEdit

OceanaGold owns four operating assets, these include the Macraes and Waihi Gold Mines in New Zealand, the Didipio Gold and Copper Mine in the Philippines and the Haile Gold Mine in the United States of America. Each of the company’s operating assets hold additional growth potential.[2]

New ZealandEdit

The Macraes Goldfield is an open pit and underground operation in Otago in the South Island of New Zealand. New Zealand’s largest gold producing operation, it has produced over 4 million ounces of gold to date. Macraes produced 160, 266 ounces of gold in 2017.[2]

The Waihi Gold Mine is and underground operation in Waikato in the North Island of New Zealand. In March 2018 the company announced the commencement of the resource consenting process to construct and operate a new underground mine.[3] Waihi produced 119,084 ounces of gold in 2017.[2]

PhilippinesEdit

The Didipio Gold-Copper Mine is an underground operation in Nueva Vizcaya, Luzon. Didipio produced 176,790 ounces of gold and 18,351 tonnes of copper in 2017.[2] Didipio has been internationally recognized for exceptional safety, environment and social development performance.[4] Local and provincial government strongly disagrees with the operator‘s favorable publicit, however. Nueva Vizcaya Governor Carlos Padilla has publicly opposed renewing in 2019 the five-year agreement to operate the mine, claiming more than P20 billion in unreimbursed local damages, as well as tax-avoidance and destruction of private property[5].

United StatesEdit

OceanaGold acquired the Haile Gold Mine in South Carolina as an exploration project in 2015. Construction was completed in 2016 and Haile achieved commercial production in October 2017.[6] Haile is an open pit operation (with additional underground resources), and produced 118,466 ounces of gold in 2017.[2]

Closed SitesEdit

El SalvadorEdit

OceanaGold acquired the El Dorado Project in El Salvador in late 2013 through the acquisition of Pacific Rim Mining Corp. El Dorado operated as an underground mine from 1948 to 1953. At the time of its purchase by OceanaGold and today, El Dorado has been an exploration project and has not been an operating mine since 1953. OceanaGold has closed the El Dorado project and does not plan future investments in El Salvador.[4]

New ZealandEdit

The Reefton Restoration Project is a comprehensive closure and rehabilitation program currently underway at the former Reefton Mine on the West Coast of New Zealand’s South Island. Rehabilitation works to date have included ground preparation, including waste rock reshaping, backfilling operations and seedling coverage.[4]

Strategic investmentsEdit

OceanaGold has interests in the La Curva and Claudia projects in Argentina and Sam’s Creek project in Australia. The company also has investments in Gold Standard Ventures, NuLegacy Gold and Locrian Resources Inc.[4]

See alsoEdit

ReferencesEdit

  1. ^ "OceanaGold Corporation". OceanaGold Corporation.
  2. ^ a b c d e f "OceanaGold Q4 2017 Management Discussion & Analysis" (PDF). OceanaGold Corporation. 22 February 2018.
  3. ^ "OceanaGold Commences Consenting for Martha Underground" (PDF). OceanaGold Corporation. 28 March 2018.
  4. ^ a b c d "OceanaGold 2017 Sustainability Report" (PDF). OceanaGold Corporation. 1 June 2018.
  5. ^ Philstar.com: ‘LGUs Push for Non-renewal of OceanaGold’s Didipio FTAA’, Louis M. Simeon; 06/26/3019
  6. ^ "OceanaGold Achieves Commercial Production at the Haile Gold Mine" (PDF). OceanaGold Corporation. 4 October 2017.

External linksEdit