Business Review Australia - March 2016_

http://www.oceanagold.com 33

Building a high quality

gold mining Company

Today, OceanaGold controls and

operates a portfolio of mines in

the three largest goldfields in New

Zealand, including the Macraes

operation.

As OceanaGold’s pride and

joy, the Macraes operation has

been operating since 1990 and

has produced over four million

ounces of gold to date. The site

is comprised of an open pit and

an underground mine (Frasers

Underground), commissioned

in 2008.

“The project started out with a

seven year mine life. It’s never been

particularly profitable as it contains

a very low grade, but through the

tenacity of our workforce and their

innovation, they’ve been able to

keep the operation generating a

positive cash flow,” said Wilkes.

According to Wilkes, Macraes

has an estimated 4 million ounces

of gold left in resources but it’s

an “incremental process” that

OCEANAGOLD CORP. MINING