Oceana's Philippine mine on target

Oceana Gold's Didipio gold and copper mine development in northern Luzon, Philippines, is on...
Oceana Gold's Didipio gold and copper mine development in northern Luzon, Philippines, is on schedule for commissioning in the last quarter of the year. Photo by Oceana Gold.
Oceana Gold's copper and gold mine development in the Philippines is on target for commissioning by the end of 2012 and at present has a construction workforce of more than 1000 on-site.

Oceana chief executive Mick Wilkes earlier this month described Didipio as a project which would "transform" Oceana, being capable of generating "significant" cashflow and also supporting future growth.

Didipio is estimated to produce 100,000 ounces of gold and 14,000 tonnes of copper annually, once fully ramped up for production. The estimated mine life of 16 yearsis a period similar to the mine life of the Macraes site in East Otago.

So far, 40% of the concrete pour has been completed and further progress estimated at 5% per week. Key plant equipment, such as flotation tanks and mill shells, has begun arriving.

Blasting of waste rock in the starter pit has begun and the rock is being used for construction and civil-engineering foundations.

All of the contractors are Philippine companies and 95% of the workforce are Filipinos.

Oceana has begun a feasibility study into increasing the planned removal of 3.5 million tonnes of ore per annum, potentially to 5 million tonnes.



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