OceanaGold Provides Operational Update Following Recent Weather Events in the Philippines and the Carolinas
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MELBOURNE, Australia, Sept. 19, 2018 /CNW/ - OceanaGold Corporation (TSX: OGC / ASX: OGC) (the "Company") provides an update on its Didipio operation in the Philippines and Haile operation in the United States, where over the past weekend severe weather impacted surrounding areas.
Mick Wilkes, President and CEO of OceanaGold said, "The safety and well-being of our employees is paramount and I'm very happy to announce that following major storms in the Philippines and in the Carolinas no injuries were reported. The Company uses stringent processes and operational readiness practices ahead of potential severe weather events to ensure workers are safe, the site is secure and our robust environmental safety controls are in place."
He went on to say, "Our valued workforce at both the Didipio and Haile operations were well prepared and equipped to deal with a worst-case scenario weather event and both operations are designed to withstand hurricanes, tornados or other severe weather. Our community relations teams remained in close contact with local authorities and communities throughout the storm and in the aftermath, we offered our assistance in recovery efforts."
"Operationally, we do not expect any impact to production at either operation as a result of these storms."
In the Philippines, the Didipio operation reported no injuries or environmental impacts associated with Super Typhoon Mangkhut, a category five storm that impacted northern Philippines. At Didipio, the centre of the storm travelled north of the operation, however the site received a moderate amount of rainfall. As Didipio is designed for and accustomed to significant rainfall and strong wind events, particularly during the typhoon season, the site was well prepared in advance of the storm. Following a brief stoppage of operational activities, the Didipio operation was safely restarted.
The impact of the storm on the Philippines was significant and as part of their preparations the Company had dispatched a Typhoon Response Team to assist local and regional government authorities in their recovery efforts within the Cagayan Valley to the north of the operation. In the past, Didipio's Typhoon Response Teams have provided support to other similar storms such as Super Typhoon Haiyan (also known as Yolanda) that devastated the Visayas region in Central Philippines in 2013.
In the United States, the Haile operation reported no injuries or environmental impacts associated with Tropical Storm Florence, which significantly impacted coastal areas in North and South Carolina. The centre of the slow-moving storm travelled south of Columbia, South Carolina (Haile located 60 miles north of Columbia). The Haile operation was well prepared for a worst-case scenario storm event and was temporarily suspended on Friday ahead of the weather and for the safety of the workforce who commute to and from site. The process plant was safely and successfully restarted on Sunday while mining resumed on Monday.
Prior to, during and after the storm, the Haile operation worked closely with local communities and maintained open communication lines during the storm to support their needs and well-being. In the aftermath of the storm, the Haile operation offered its support and assistance for any emergency clean-up required.
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 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 operates the Haile Gold Mine, a top-tier, long-life, high-margin asset located in South Carolina. OceanaGold also has a significant pipeline of organic growth and exploration opportunities in the Americas and Asia-Pacific regions.
OceanaGold has operated sustainably since 1990 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.
The Company expects to produce 500,000 to 540,000 ounces of gold and 15,000 to 16,000 tonnes of copper with All-In Sustaining Costs that range from $725 to $775 per ounce sold.
Cautionary Statement for Public Release
Certain information contained in this public release may be deemed "forward-looking" within the meaning of applicable securities laws. Forward-looking statements and information relate to future performance and reflect the Company's expectations regarding the generation of free cash flow, execution of business strategy, future growth, future production, estimated costs, results of operations, business prospects and opportunities of OceanaGold Corporation and its related subsidiaries. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those expressed in the forward-looking statements and information. They include, among others, the accuracy of mineral reserve and resource estimates and related assumptions, inherent operating risks and those risk factors identified in the Company's most recent Annual Information Form prepared and filed with securities regulators which is available on SEDAR at www.sedar.com under the Company's name. There are no assurances the Company can fulfil forward-looking statements and information. Such forward-looking statements and information are only predictions based on current information available to management as of the date that such predictions are made; actual events or results may differ materially as a result of risks facing the Company, some of which are beyond the Company's control. Although the Company believes that any forward-looking statements and information contained in this press release is based on reasonable assumptions, readers cannot be assured that actual outcomes or results will be consistent with such statements. Accordingly, readers should not place undue reliance on forward-looking statements and information. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements and information, whether as a result of new information, events or otherwise, except as required by applicable securities laws. The information contained in this release is not investment or financial product advice.