OceanaGold exceeds full-year output guidance
PERTH (miningweekly.com) – Dual-listed OceanaGold has exceeded its production guidance for 2012, on top of reporting a 55% increase in gold production for the three months to December.
During the full year, the miner produced 232 909 oz of gold from its operations in New Zealand, which was above the previous guidance of between 225 000 oz and 230 000 oz.
The full-year results were driven by the 55% increase in production during the December quarter, which reached 76 844 oz. OceanaGold said on Thursday that the increase in production was the result of mining higher-grade ore at both the Macraes and Reefton operations.
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.
“We are very pleased with our performance in 2012. New Zealand operations had a strong fourth quarter as planned, and Didipio continued to achieve each key milestone on schedule, including the start of commissioning,” said MD and CEO Mick Wilkes.
He added that 2013 would be a transformational year for the company as it ramped up commissioning at Didipio and transitioned into steady-state operations.
“The focus of commissioning activities is now on increasing copper and gold recoveries and ramp-up of the plant throughput. We are on track to deliver on expectations to mill 2.5-million tons a year at Didipio in 2013,” Wilkes said.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Rio Carb is an OEM (Original Equipment Manufacturer) of R-C700 Chromium Carbide (CrC) alloy clad wear plates and pipes used for heavy materials...
VISIT SHOWROOM
Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
