OceanaGold
| Type | Public |
|---|---|
| Industry | Gold Mines |
| Founded | 2004 |
| Headquarters | Melbourne, Australia |
| Key people |
Mick Wilkes, CEO Marcus Engelbrecht, CFO Mark Cadzow, COO |
| Website | www.oceanagold.com |
OceanaGold Corporation (OceanaGold) (TSX: OGC) is a significant Pacific Rim gold producer, listed on the Toronto, Australian and New Zealand stock exchanges under the symbol “OGC”.
It has both producing and developing mines, with operations on the South Island of New Zealand and development and exploration activities in New Zealand and the Philippines.
Philippines mining operations
The Philippine Court of Appeals on June 11, 2008 issued a 60 days temporary restraining order preventing Nueva Vizcaya “from acting on a cease and desist order issued by Governor Luisa Cuaresma against Oceanagold (after it refused to pay P 30 million ($ 680,000) quarry permit).” OceanaGold invested $ 200 million to develop its Didipio Gold-Copper Mining Project in Didipio, Nueva Vizcaya. The mine would produce 120,000 ounces of gold and 15,000 tonnes of copper concentrate a year in the first 10 years of production with a minimum life of 15 years.[1][2] Environmental groups led by Kalikasan-PNE (People’s Network for the Environment) however, criticized the appeals court Order: “the entry of OceanaGold is the root cause of tension and violence among Ifugao communities in Dipidio.”[3]
New Zealand mining operations
OceanaGold's operating mines in New Zealand are:[4]
Macraes - New Zealand's largest gold mine which consists of a large scale open cut mine and underground pit (Frasers Underground - which commissioned in early 2008 and targets the deeper extensions of the Macraes orebody).
Reefton Project - OceanaGold's second operating mine reached planned production in the first quarter of 2007 and is open cut with four open pits; Globe Progress, General Gordon, Empress and Souvenir.