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OceanaGold starts processing at Didipio

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Global Mining Review,

OceanaGold Corp. has announced the commencement of processing at the Didipio Gold-Copper Mine in the Philippines.

Scott Sullivan, Chief Operating Officer and Acting CEO of OceanaGold, said: “This is a major milestone for OceanaGold, the Didipio Mine and host communities. Following the confirmation of the Didipio Mine financial or technical assistance agreement renewal, Didipio is producing gold and copper again, which will be an important source of free cash flow generation for the company and a significant contributor of socio-economic benefits for the region and country.”

“The start of milling is two weeks ahead of schedule, following the completion of plant upgrades and maintenance activities and the start of mining activities was one month ahead of schedule. It marks a new beginning for the operation and the predominately Filipino workforce who are leading and operating a first quartile gold and copper producer.

“As the underground mining operations continue to ramp up over the course of the next 8 – 9 months, the primary ore feed will be sourced from low-grade stockpiles, of which the company has approximately 23 million t of ore on surface. With underground ore progressively being delivered to the ROM pad, the operation will increase the proportion of higher-grade ore feed to supplement the mill.”

The Didipio process plant is expected to ramp up to its throughput rate of 3.5 million tpy over the course of the next few weeks. For the remainder of the year, the company expects to produce between 7000 – 12 000 oz of gold and 1000 t of copper at an AISC between US$100 – US$150/oz sold on a by-product basis. The company will continue to manage the risks associated with COVID-19 as it continues to ramp up operations to full production rates of 10 000 oz of gold per month and 1000 tpm of copper.

Sullivan concluded: “We are grateful for the support and cooperation from our workforce, government and regulators who are working with us as we ramp up Didipio to full production. In parallel with the ramp-up, Didipio has recommenced social and development projects and continues to support COVID-19 vaccination and community health programmes in partnership with local authorities.”

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Asian mining news Copper mining news Gold mining news