Belt-tightening at Oceana Gold appears not to have reached
all levels of the workforce, with the combined total
remuneration to its top five executives up almost 40% last
year, to $US4.36 million ($NZ5.81 million).
Oceana Gold, the operator of the East Otago Macraes gold
project, is attempting to shield itself from further
gold-price falls by introducing a ''collar'' around the price
it will receive for gold over the next two years.
After a troubled start to its calendar financial year East
Otago-based Oceana Gold is reaping benefits from cost savings
and predicting a ''strong finish'' to the year, underpinned
by better-than-expected copper production from ramping up its
Philippines gold-copper mine.