OceanaGold’s 97-gram hit backs Waihi expansion
OceanaGold plans a 50% expansion of its Waihi plant after discovering rich gold veins in Wharekirauponga.
OceanaGold, a gold mining company, is considering expanding its Waihi processing plant in New Zealand by 50%. This expansion would increase the production capacity from 800,000 tonnes to 1.2 million tonnes annually. The company has recently discovered some of Wharekirauponga's richest gold-bearing holes, including a 6.3-meter section grading 97.2 grams of gold per tonne.
OceanaGold's President and CEO, Gerard Bond, has stated that this discovery confirms the continuity and expansion potential of the southern high-grade zone, which currently lies outside of reported reserves. The updated technical report, expected in January, will include new resources, reserves, and an assessment of extending the Martha mine beyond 2033.
Scotiabank analyst Ovais Habib anticipates that this expansion could boost Waihi's long-term production and value.
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