OceanaGold commences processing at the Didipio gold and copper mine ahead of schedule
(Kitco News) - Yesterday, OceanaGold (TSX:OGC) announced the commencement of processing at the Didipio gold-copper minein the Philippines.
The Didipio process plant isexpected to ramp up to its throughput rate of 3.5 million tonnes per annum overthe course of the next few weeks, the company said in a statement.
For the remainder of theyear, the company expects to produce between 7,000 and 12,000 ounces of goldand 1,000 tonnes of copper at an all-in sustaining costs between US$100 and US$150per ounce sold on a by-product basis.
COO and Acting CEO ScottSullivan commented, "The start of milling is two weeks ahead of schedule,following the completion of plant upgrades and maintenance activities and thestart of mining activities was one month ahead of schedule. It marks a newbeginning for the operation and the predominately Filipino workforce who areleading and operating a first quartile gold and copper producer."
"As the underground miningoperations continue to ramp up over the course of the next eight to ninemonths, the primary ore feed will be sourced from low-grade stockpiles, ofwhich the company has approximately 23 million tonnes of ore on surface. Withunderground ore progressively being delivered to the ROM pad, the operationwill increase the proportion of higher-grade ore feed to supplement the mill,"he added.
OceanaGold is a multinationalgold producer with a portfolio of established operating assets includingDidipio mine in the Philippines; Macraes and Waihi operations in New Zealand;and Haile gold mine in the United States of America.
By Vladimir BasovFor Kitco News
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