East Otago-based Oceana Gold has floated a long-term concept plan for a "superpit" open cast mining proposal at Macraes which could increase estimated gold reserves by almost 70%, to more than 2.6 million ounces.
Oceana Gold has paired up with ASX-listed MOD Resources, of Perth, to explore its long-held Sams Creek tenement in the Tasman district of the South Island.
Producing gold is expected to become cheaper for Oceana Gold at its gold and copper development mine in the northern Philippines.
Oceana Gold advised yesterday there had been a fatality at its Didipio tenement in the northern Philippines as a result of a weather related-incident associated with Typhoon Pedring.
A proposal for Oceana Gold to pay $4.475 million as part of its Macraes mine expansion has the "hallmark of some kind of punitive measure", company counsel Stephen Christensen says.
The recent gold price bubble is deflating with the precious metal losing more than 15% in value and mining companies' stocks taking a hammering in the process.
The Department of Conservation will receive $100,000 from gold-miner Oceana Gold in return for taking a neutral stance on an application to expand the East Otago gold mine.
Oceana Gold is seeking 100 new recruits for its Macraes and Reefton mining operations, as it pursues resource consents to extend the life of its East Otago gold mine.
Just how is the community going to benefit from Oceana Gold's mine expansion when it is going to be left with "three pits filled with contaminated water"? asked panel member Cr Duncan Butcher yesterday.
Oceana Gold's proposed Macraes mine extension is unlikely to affect water quality or quantity at Macraes Flat or the local school, hydrogeologist Brett Sinclair says.
Just how Oceana Gold will react when one of its mine safety "trigger levels" is exceeded in its proposed new pits needs to be detailed, hearing panel member Cr Duncan Butcher said.
Shares in East Otago-based gold producer Oceana Gold are attracting global fund attention, with a group amassing an almost 8% stake costing $A9.66 million ($NZ12.1 million) during the past three months.
Delegates attending the influential Institute of Mining and Metallurgy conference in Queenstown were upbeat about New Zealand's prospects. Business reporter Simon Hartley wraps up the conference.
East Otago miner Oceana Gold, in existence for 21 years, has applied for resource consents to extend its mine life to 2020.
Three years after mothballing its northern Philippines gold and copper development mine, triple-listed Oceana Gold has announced construction will resume on the $US185 million ($NZ226 million) self-funded project.
Oceana Gold, which is intending to more than double annual gold production to 600,000 ounces by 2016, is ramping up its exploration in New Zealand and the Philippines.
Oceana Gold has announced an estimated 14% increase in gold resources at its Reefton open pit mine on the West Coast after a successful 12-hole drilling programme, which may have defined up to 95,000 ounces of gold.
Listed Oceana Gold Corp expects to begin construction activities at its mothballed northern Philippines gold and copper development mine by mid-2011, with 80% of the process plant equipment purchased or ordered by then.
An audit of Oceana Gold's environmental monitoring data has shown inconsistencies, inaccuracies and failures, the Otago Regional Council says.
East Otago-based Oceana Gold has, for the second time in a year, upgraded its overall estimated gold reserves, further extending the estimated "life of mine" to eight years.