PERTH (miningweekly.com) – Dual listed gold miner OceanaGold Corporation has seen gold production for the full year ended December decline from the 470 600 oz produced in 2019 to 301 700 oz, with the company expecting production to increase in 2021.
Gold production in the quarter ended December reached 99 200 oz, which was also down from the 108 200 oz produced in the previous corresponding period.
“We delivered a strong fourth quarter of production, consistent with our core value to deliver on our commitments. Despite the ongoing risks associated with the Covid-19 global pandemic in the US, Haile achieved its full year production guidance with 137 413 gold ounces produced including 48 988 oz in the fourth quarter,” said president and CEO Michael Holmes.
“The risks associated with the management of Covid-19 remain, and we are focussed on keeping our workforce safe while delivering on our commitments. We expect the continued mining of high-grade zones at Haile through the first half of 2021.”
Holmes noted that in New Zealand, both the Macraes and Waihi operations delivered on full year production guidance with 144 487 oz and 19 775 oz of gold, respectively, while the development of the Martha Underground continues to advance, and OceanaGold expected first production at the end of the second quarter.
Meanwhile at Macraes, development of Golden Point Underground is progressing well with first production on track for the fourth quarter.
“Over 30 000 m were drilled in the Waihi District through 2020 with fourth-quarter activities focussed on resource conversion drilling at Martha Underground and Wharekirauponga,” said Holmes.
Meanwhile, in December, the company met with Philippine government officials, as instructed by the Office of the President, to finalise the terms and conditions of the financial or technical assistance agreement renewal.
“We expect the renewal will be returned to the Office of the President for review and approval in the near-term. Didipio is a world-class operation that employs thousands of Filipinos and is a significant source of economic benefit to the National government as well as the local communities of Nueva Vizcaya and Quirino. We look forward to working with stakeholders and government officials to safely restart operations and continue the significant socio-economic benefits when the renewal has been approved. OceanaGold is a responsible gold mining company that is focussed on operating to the highest social and environmental international standards and considers Didipio the template for responsible mining globally,” Holmes added.
“Looking ahead to 2021, we expect stronger year-on-year production. Our robust organic growth pipeline is advancing to plan, and we are excited to bring Martha Underground into full production in the second quarter.
“Exploration remains a critical part of the OceanaGold story, and we will continue to invest in the drill bit to discover and convert ounces at each of our operations.”