PERTH (miningweekly.com) – The New Zealand government has granted dual-listed OceanaGold approval to purchase 178 ha of land near the Waihi gold mine.
The ASX- and TSX-listed company has previously been granted a permit to start underground mining at the Martha project, near Waihi.
The Martha underground project is estimated to host a measured and indicated resource of 140 000 oz of gold and an inferred resource of sabout 339 000 oz. The underground project had the potential to add an additional ten years to the life of the Waihi mine.
“We are very pleased with this decision as we seek to make further significant economic contributions to the Waihi and surrounding communities,” OceanaGold president and CEO Mick Wilkes said on Tuesday.
“We are making additional significant investment to grow our business in New Zealand. Through these investments, we expect to secure the long-term future of our operations and host communities in both the south and north islands for decades more.
“Our ability to operate to the highest environmental and social standards for the past 30 years including operations in environmentally sensitive areas such as the west coast of New Zealand, reflects our commitment to be a template for responsible gold mining.”