OceanaGold Corp. expects better gold production but flat copper output for this year in its operations in Didipio, Nueva Vizcaya.
Oceana Gold operates in the Philippines through subsidiary OceanaGold (Phils) Inc. (OGPI).
The company said the Didipio mine produced 113,198 ounces of gold last year which may increase by as much as 14.84 percent to between 120,000 to 130,000 ounces in 2023.
Copper production of the mine can be lower or flat at around 12,000 to 14,000 tons this year from last year’s 14,361 tons.
OceanaGold said it expects gold and copper production in Didipio to be “evenly weighted throughout the year,” as it aims to focus on resource conversion drilling and continued definition drilling of the two new mineralized structures recently discovered outside of the current resource in the Nueva Vizcaya mine.
“Looking ahead to 2023 and beyond, our focus is to deliver on our near-mine, lower risk, organic growth profile… Additionally, we will continue to invest in the exciting exploration opportunities across the business, with a focus on near-mine high return targets at Didipio, Haile and Wharekirauponga,” said Gerard Bond, OceanaGold president and chief executive officer. – Jed Macapagal
