OceanaGold has secured a preliminary approval from the regulators for the extension of mine life of Waihi in New Zealand.
The company said that an independent panel of commissioners appointed by the Hauraki District Council and the Waikato Regional Council has granted all resource consents for the Martha underground mine and resumption of mining operations from stage 4 of the Martha open pit, subject to the outcome of a statutory appeal period.
OceanaGold president and CEO Mick Wilkes said: “These consents represent a great outcome for the Company, the town of Waihi and for the region, as the extended mine life provides our valued employees and our shareholders with more certainty that mining at Waihi will continue for at least the next 10 years.
“Waihi has had a long rich history of gold mining that dates back to the 1800’s and since then over 11 million ounces of gold have been produced in the Coromandel. More recently, since 1988 when mining commenced at the Martha Open Pit, the Waihi operation has been a major employer in the region and has contributed a significant amount of socio-economic benefits while operating to the highest of environmental standards globally.”
Following receipt of these consents from the Regulator, parties who provided submissions during the initial public hearing process have until 1 February 2019 to appeal the decision.
Source: Company Press Release