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NZ gold miner sets date for long-delayed Philippines project


New Zealand's biggest goldminer, OceanaGold, says it will start producing copper in concentrate from its long-delayed Didipio mine project in the Philippines in 2013 at an annual rate of 18,000 tonnes. 

NZPA
Thu, 16 Jun 2011

New Zealand's biggest goldminer, OceanaGold, says it will start producing copper in concentrate from its long-delayed Didipio mine project in the Philippines in 2013 at an annual rate of 18,000 tonnes.


Gold production from the mine under construction in northern Luzon, will ramp up to 100,000 ounces a year by the end of 2014, Mick Wilkes, OceanaGold's chief executive told Reuters.


"What really favours us in the current market is our copper production as it means we are getting a large portion of our revenue from copper," Wilkes said in an interview. 
OceanaGold -- listed on the Toronto, Australian and New Zealand stock exchanges -- already produces about 270,000 ounces of gold annually in New Zealand.

It runs the nation's largest gold mining operation at the Macraes goldfield in Otago which is made up of the Macraes open pit and the Frasers Underground mines, and on the West Coast it operates the Reefton open pit mine.

NZPA
Thu, 16 Jun 2011
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NZ gold miner sets date for long-delayed Philippines project
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