MELBOURNE, Jan. 20, 2017 /CNW/ - OceanaGold Corporation (TSX/ASX: OGC) (the "Company") is pleased to announce first gold production at the Haile Gold Mine. Today, the operation poured its first gold doré bars totalling 445 ounces.
Mick Wilkes, President and CEO of OceanaGold said, "The first gold pour at Haile is another significant achievement for the Company, the valued communities of Kershaw and Lancaster, and the state of South Carolina. This achievement marks the first gold production from the Haile Gold Mine in 25 years, and nearly 190 years since gold was first produced there. The Haile Gold Mine is a world-class asset with leading margins, a growing resource, and significant expansion potential."
He added, "Construction is complete and commissioning activities are progressing to plan as we move closer to putting the newest gold mine in the United States into commercial production early in the second quarter this year. We are also advancing the Haile optimisation study which is expected to be complete by mid-2017."
Commissioning activities initially commenced with the grinding and leaching circuits with mill feed from stockpiled oxide ore. With these circuits now up and running, commissioning is now moving to the flotation and fine grinding circuits as part of the planned sequential introduction of transitional and sulphide ore into the mill.
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About OceanaGold
OceanaGold Corporation is a mid-tier, high-margin, multinational gold producer with assets located in the Philippines, New Zealand and the United States. The Company's assets encompass its flagship operation, the Didipio Gold-Copper Mine located on the island of Luzon in the Philippines. On the North Island of New Zealand, the Company operates the high-grade Waihi Gold Mine while on the South Island of New Zealand, the Company operates the largest gold mine in the country at the Macraes Goldfield which is made up of a series of open pit mines and the Frasers underground mine. In the United States, the Company is currently commissioning the Haile Gold Mine, a top-tier asset located in South Carolina along the Carolina Terrane. The Company expects the Haile Gold Mine to commence commercial production in early 2017. OceanaGold also has a significant pipeline of organic growth and exploration opportunities in the Australasia and Americas regions.
OceanaGold has operated sustainably over the past 26 years with a proven track record for environmental management and community and social engagement. The Company has a strong social license to operate and works collaboratively with its valued stakeholders to identify and invest in social programs that are designed to build capacity and not dependency.
In 2017, the Company expects to produce 550,000 to 610,000 ounces of gold and 15,000 to 17,000 tonnes of copper with sector leading All-In Sustaining Costs that range from $600 to $650 per ounce sold.
