OceanaGold Corp. expects its mining operations in Didipio, Nueva Vizcaya to ramp up this year, producing as much as 110,000 ounces of gold and up to 13,000 tons of copper.
In a statement, OceanaGold said full underground production rates in the mine site will be achieved by the second quarter of the year following the renewal of its financial or technical assistance agreement (FTAA) in July last year.
“The company will resume drilling of the Didipio ore body in 2022 with an aim to extend mine life through discoveries at depth. Greenfield exploration activities are expected to resume late in 2022 on near-mine targets,” the company said.
OceanaGold said beyond this year, the Didipio mine is expected to produce between 110,000 and 120,000 ounces of gold per year and 12,000 to 14,000 tons of copper per year at similar all-in sustaining cost and cash costs.
David Way, OceanaGold executive general manager for New Zealand and the Philippines, said while its local subsidiary, OceanaGold (Philippines) Inc. (OGPI) has other prospects in the Philippines, “our focus at the moment is get Didipio back up for full production, going full bore, understand the full capacity primarily of the Didipio ore body and then determine an exploration strategy going forward throughout the rest of the country.”
The Mines and Geosciences Bureau said OGPI’s resumption of operations last July contributed to higher ore production for the country. The company reported total sales for gold and silver as of August 2021, amounting to P105.86 million bound to Australia.
