Oceangold achieves commercial production at the Haile gold mine

Mick Wilkes, OceanaGold President and CEO said:

“The achievement of commercial production is a major milestone for the Haile Gold Mine. It was through the hard work and dedication of our workforce and unwavering support from our shareholders, local stakeholders and partners that we are at this pivotal point only less than two years after taking ownership of this world-class asset located in South Carolina, United States.”

He went on to say, “The operation is back on track following the disappointment of the second quarter. Process plant throughput has improved and is close to design rates, while grade and recoveries are in-line with our expectations. Over the course of the next several months, we will continue to ramp-up operations and focus on fine-tuning of the process plant for incremental improvements.”

All aspects of the operation have been transitioned to the operations team and the commissioning team has demobilised. Mining operations continue to progress as planned with mining of sulfide ore at both the Mill Zone and Snake pits while mine reconciliation has been in-line with expectations. The company’s near-term focus is to further improve mine productivity and operator training to align with OceanaGold’s global operations standards. The Haile operation is cash flow positive and operating costs have been generally in-line with expectations although mining unit costs are slightly higher due to lower productivity during this ramp up phase. The Company expects to disclose the final reconciled revenue and costs associated with Haile’s pre-commercial operating period when it releases its third quarter 2017 financial and operating results on Thursday 26 October.

Read the article online at: https://www.globalminingreview.com/mining/05102017/oceangold-achieves-commercial-production-at-the-haile-gold-mine/