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MELBOURNE, Oct. 18, 2016
/CNW/ - OceanaGold Corporation (TSX/ASX/NZX: OGC) (the
"Company") confirms that it has received a letter from the
Department of Environment and Natural Resources ("DENR") along with
the Didipio Audit Report ("Audit Report") that outlines the
findings and recommendations from the recently completed audit of
its Didipio Operations. According to the DENR letter, the Company
has the opportunity to address the findings and recommendations
contained within the Audit Report within seven days of receipt.
The Company notes that, of the findings and recommendations
outlined in the Audit Report, a number of them were discussed as a
matter of routine with the DENR audit team during the DENR close
out meeting following the completion of the audit in August. The
findings in the Audit Report relate mostly to a need to further
educate a broader group of stakeholders on specific aspects of the
operations. The vast majority of recommendations relate to the need
to further expand the Company's Information, Education and
Communication ("IEC") program. Furthermore, the "findings" on the
Didipio operations publicised during the DENR press conference on
26 September 2016, were not included
as findings outlined in the Audit Report.
The Audit Report states that the Company "has extended more than
what is required by law…" and "was found to be complying its
permitting requirements set forth by different Philippine
Environmental Laws…Moreover its operations are being governed by an
Environmental Management System that is ISO 14001:2004 compliant…"
The Audit Report goes on to say that the area of Didipio, "has to
deal with illegal artisanal small scale mining activities that
contribute to the degradation of the immediate environment and
waterbodies..." and includes a recommendation to government
agencies to stop these illegal operations.
Mick Wilkes, President and CEO
said, "The Didipio Mine is a world class operation that operates in
accordance with the highest industry standards for health, safety,
environment, community and sustainability. The results of the Audit
Report and discussions we've had with the audit team and with
government officials including those within the DENR clearly
demonstrates this. In our discussions with the DENR and government
officials, we have good alignment and we look forward to our
collective efforts to advance a responsible mining sector." Mr.
Wilkes added, "As such, I am very confident that our responses to
the DENR will satisfy all of the findings and recommendations that
have been raised."
He went on to say, "I am also pleased that the Didipio operation
was nominated by the Mines and Geosciences Bureau, an agency of the
DENR, for the 2016 Presidential 'Most Environmentally Responsible
Mining Operation" for a third straight year. As the award recipient
in 2015 and nominee again in 2016, we believe that the Didipio
operation is the template for what President Duterte is seeking
when stating his desire for a responsible mining sector within
the Philippines."
The Didipio Mine continues to operate without interruption and
2016 guidance is firmly maintained.
About OceanaGold
OceanaGold Corporation is a mid-tier, low-cost, multinational
gold producer with assets located in the
Philippines, New Zealand
and the United States. The
Company's assets encompass its flagship operation, the Didipio
Gold-Copper Mine located on the island of Luzon in the Philippines. On the North Island of
New Zealand, the Company operates
the high-grade Waihi Gold Mine while on the South Island of
New Zealand, the Company operates
the largest gold mine in the country at the Macraes Goldfield which
is made up of a series of open pit mines and the Frasers
underground mine. In the United
States, the Company is currently constructing the Haile Gold
Mine, a top-tier asset located in South
Carolina along the Carolina Terrane. The Company expects the
Haile Gold Mine to commence commercial production in early 2017.
OceanaGold also has a significant pipeline of organic growth and
exploration opportunities in the Asia-Pacific and Americas regions.
OceanaGold has operated sustainably over the past 26 years with
a proven track record for environmental management and community
and social engagement. The Company has a strong social license to
operate and works collaboratively with its valued stakeholders to
identify and invest in social programs that are designed to build
capacity and not dependency.
In 2016, the Company expects to produce 385,000 to 425,000
ounces of gold from the combined New
Zealand and Didipio operations and 19,000 to 21,000 tonnes
of copper from the Didipio operation at All-In Sustaining Costs of
US$700 to US$750 per ounce.
Cautionary Statement for Public Release
Certain information contained in this public release may be
deemed "forward-looking" within the meaning of applicable
securities laws. Forward-looking statements and information relate
to future performance and reflect the Company's expectations
regarding the outcome of the DENR audit and its impact on the
Didipio operation, the generation of free cash flow, execution of
business strategy, future growth, future production, estimated
costs, results of operations, business prospects and opportunities
of OceanaGold Corporation and its related subsidiaries. Any
statements that express or involve discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives,
assumptions or future events or performance (often, but not always,
using words or phrases such as "expects" or "does not expect", "is
expected", "anticipates" or "does not anticipate", "plans",
"estimates" or "intends", or stating that certain actions, events
or results "may", "could", "would", "might" or "will" be taken,
occur or be achieved) are not statements of historical fact and may
be forward-looking statements. Forward-looking statements are
subject to a variety of risks and uncertainties which could cause
actual events or results to differ materially from those expressed
in the forward-looking statements and information. They include,
among others, the accuracy of mineral reserve and resource
estimates and related assumptions, inherent operating risks and
those risk factors identified in the Company's most recent Annual
Information Form prepared and filed with securities regulators
which is available on SEDAR at www.sedar.com under the Company's
name. There are no assurances the Company can fulfil
forward-looking statements and information. Such forward-looking
statements and information are only predictions based on current
information available to management as of the date that such
predictions are made; actual events or results may differ
materially as a result of risks facing the Company, some of which
are beyond the Company's control. Although the Company
believes that any forward-looking statements and information
contained in this press release is based on reasonable assumptions,
readers cannot be assured that actual outcomes or results will be
consistent with such statements. Accordingly, readers should not
place undue reliance on forward-looking statements and information.
The Company expressly disclaims any intention or obligation to
update or revise any forward-looking statements and information,
whether as a result of new information, events or otherwise, except
as required by applicable securities laws. The information
contained in this release is not investment or financial product
advice.
SOURCE OceanaGold Corporation