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Business

OceanaGold starts producing copper-gold

The Philippine Star

MANILA, Philippines - Australian miner OceanaGold Corp. has begun producing copper-gold concentrate in its newly-commissioned Didipio mine in Nueva Vizcaya.

OGC commissioned in November the Didipio mine, which has an estimated lifespan of 16 years. It is the first mining tenement in the country to operate under a financial or technical assistance agreement (FTAA).

The company operates in the country through its local arm OceanaGold (Philippines) Inc.

For 2013, OGC expects to produce 285,000 to 325,000 ounces (oz) of gold from the New Zealand and Philippine operations combined. Gold production at the Didipio mine for 2013 is seen at 50,000 to 70,000 oz while copper production is placed at 15,000 to 18,000 tons

“Following the start of milling activities late in November, commissioning has advanced well. Over the past week we have  successfully commissioned the flotation cells and filter to produce saleable copper-gold concentrate. The process plant is now running in steady-state and the remainder of commissioning activities this year will focus on increasing throughput and  improving recoveries and concentrate grade. This is a great outcome for the Company, the local communities of Nueva Vizcaya and Quirino provinces and for the Republic of the Philippines. I would also like to acknowledge the support for the project we have received from our national and local government partners and we look forward to further strengthening this relationship in the future,” said company managing director and CEO Mick Wiles.

“We have had a strong finish to the year as expected with production from New Zealand on track to meet the revised guidance.

We expect strong production next year in New Zealand and with Didipio coming on stream as planned.  We are in a great position heading into 2013,” he added.

OceanaGold said that as far as construction activities in the Didipio mine are concerned, infrastructure in the main process plant are complete.Construction of the plant and mine maintenance workshops will be completed as part of capital works in 2013 along with the upgrading of the process plant. 

The Didipio project is expected to produce 100,000 ounces of gold and 14,000 tones of copper per year on average over its lifespan.

After the commissioning of the mine, the OGC plans to conduct a definitive feasibility study for the expansion of the ore processing plant’s  current capacity by 2013.

In its 2012 Fact Book, the firm reported that the mine’s mineral processing facility currently has an initial throughput capacity of 2.5 million tons per annum (MTPA) building up to 3.5 MTPA by the end of 2014.

“The plant has been designed in a linear formation allowing for future expansion,” the company said in the report.

DIDIPIO

FACT BOOK

MICK WILES

MINE

NEW ZEALAND

NEW ZEALAND AND PHILIPPINE

NOVEMBER THE DIDIPIO

NUEVA VIZCAYA

NUEVA VIZCAYA AND QUIRINO

OCEANA

REPUBLIC OF THE PHILIPPINES

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