A slip on the access road into Frasers pit at Oceana Gold's
Macraes site, which restricted access to high-grade ore for
16 days, is not expected to impact on overall gold production
In its fourth quarter report, chief executive Mick Wilkes
said a ''major movement of the footwall'', which has been
subject to frequent movement during the previous 16 years,
was triggered by heavy rainfall.
''The ground movement resulted in restricted access to high
grade ore at the base of the pit for a period of 16 days,''
until early January, Mr Wilkes said.
Mining continued unaffected in other areas of the open pit.
Monitoring systems gave ''ample warning'' of the higher rate
of movement and all staff and equipment was evacuated from
the pit and the underground Frasers mine, the entrance to
which is at the bottom of the pit, ''without harm'', he said.
While an update on the event will be provided ''in due
course'', it was not expected to affect Mr Wilkes' earlier
overall production guidance for 2013 of 285,000oz to
325,000oz, but the interruption may be reflected in first
quarter production figures.
Gold during 2013 was estimated to be produced for a cash cost
of $US650 to $US800 ($NZ775 to $950) an ounce, net of copper
by-product credits from Oceana's gold and copper mine in the