PMEA Blog

OceanaGold Corporation (OceanaGold) is a significant Pacific Rimgold producer with a diverse portfolio of operating, development and exploration assets.

The company has an established presence in the South Island of New Zealand and the Philippines, with dominant land holdings in the Macraes and Reefton goldfields in New Zealand and the DidipioValleyin the Philippines.

OceanaGold fully commissioned its second mine in the second quarter of 2007 and is developing a further two mines. These will increase production from a rate of ~180,000 gold ounces in 2006, to a rate of ~500,000 gold equivalent ounces per annum by 2009.
 
OceanaGold is committed to building partnerships with its key stakeholders and conducting its business in a manner that is beneficial to all its communities of interest:  

The Company has a confirmed growth path and is creating shareholder value by building a sustainable and profitable international gold company.

OceanaGold is listed on the Toronto, Australian and New Zealand Stock Exchanges under the code “OGC”.

Philippines– Exploration:  OceanaGold (through its acquisition of Climax Mining Ltd) holds one of the largest high-quality gold-copper exploration portfolios in the Philippines, with tenements in Luzon (including the Didipio FTAA), SurigaoPeninsulain North East Mindanao, and Panay.

PhilippinesMine Development:  The Didipio Gold Copper Project forms part of the Didipio Project which is located approximately 270 km north of Manila in Luzon Island, Philippines and 100 km to the east of the country’s largest gold-copper mining operations centered in the Baguio area.

In October 2005, the Department of Environment and Natural Resources (DENR) granted a Permit to Operate for development of the project - the keystone approval to allow the Project to proceed to construction and operation.

The proposed development comprises four years of open cut mining, followed by at least 11 years of subsequent underground sub-level caving operations, totaling an expected minimum 15 years of processing operations.

The Didpio Gold Copper Project is designed for an annual throughput of 2.5 milion tonnes of ore per annum from open pit and underground mining. Annual metal production will average approximately 227,000 gold equivalent ounces in the first ten years of production, comprising some 142,000 ounces of gold and 15,000 tonnes of copper in concentrate.