PERTH (miningweekly.com) – Dual-listed OceanaGold has reported a 55% increase in gold production during the fourth quarter, as the miner accessed higher gold grades at its New Zealand operations.
During the three months to December, gold production reached 76 822 oz, bringing total 2012 production to 232 909 oz.
“As expected, both Macraes and Reefton delivered higher grades to the mill during the fourth quarter, and thus production was up 55% on the previous quarter,” OceanaGold MD and CEO Mick Wilkes said.
The Macraes goldfield produced 58 872 oz during the fourth quarter, up 60% on the previous three months, as a result of higher grades and improved gold recoveries.
The Reefton goldfield reported fourth-quarter production of 17 972 oz, representing an increase of 42% on the previous quarter, which OceanaGold also attributed to higher grades through the mill from the Souvenir pit, as well as improved gold recoveries.
Wilkes noted that, throughout the year, the Didipio project, in the Philippines, had also consistently met its milestones, with construction completed in December, and first saleable copper/gold concentrate produced during the same month.
“Another major milestone was also met last week when the first truckloads of concentrate were delivered to the port. Daily plant throughput rates have reached annualised rates of 2.4-million tons a year and are well ahead of our ramp-up schedule for this point in the commissioning programme.”
However, Wilkes added that, following a minor incident during the commissioning phase, OceanaGold had identified some deficiencies in the tailings delivery system that required modification.
“We will be making these improvements over the next few weeks to ensure long-term reliability as the plant ramps up to 3.5-million tons a year. During this time, the plant will be temporarily off-line.”
Meanwhile, sales revenue for the fourth quarter reached $119-million, with 69 761 oz sold during the three months.