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MELBOURNE, Feb. 14, 2017 /CNW/ - OceanaGold Corporation
(TSX/ASX: OGC) (the "Company") advises that the Company
received an order from the Department of Environment and Natural
Resources ("DENR") today calling for the suspension of the Didipio
operations.
The order repeated allegations previously made by the DENR,
citing "… petition of the Local Government of Nueva Vizcaya for the cancellation of the FTAA;
alleged damages to houses caused by the blasting operation; and the
potential adverse impact to the agricultural areas of the
Province…". The Company was also given a period of up to
three months to address the issues raised against it.
Subsequent to receiving the order, OceanaGold filed an appeal
directly with the Office of the President which, in accordance with
the rules and regulations, stays the execution of the suspension
order. The Company anticipates that Didipio will continue to
operate during the appeal process.
Mick Wilkes, President and CEO of
OceanaGold said, "We are an environmentally and socially
responsible mining Company that has delivered meaningful benefits
to a multitude of stakeholders in the host communities that support
the mine in the provinces of Nueva
Vizcaya and Quirino. We have the strong endorsement from our
host communities to operate and are a major employer of Filipino
nationals, majority of whom are from the local communities. A
suspension of operations will adversely impact thousands of
Filipinos directly and indirectly."
"The Didipio operation has not violated or breached any
Philippines laws, rules or
regulations. In fact, OceanaGold has a successful track record of
operating for 27 years in accordance with Australian and Canadian
standards on health, safety, environment, community and
sustainability across all our operations. We strongly believe that
the Didipio operation is the template for what President Duterte is
seeking in his desire for a responsible mining sector in
the Philippines," Mr. Wilkes
added.
info@oceanagold.com |
www.oceanagold.com | Twitter: @OceanaGold
About OceanaGold
OceanaGold Corporation is a mid-tier, high-margin, 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 commissioning 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
Australasia 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 2017, the Company expects to produce 550,000 to 610,000
ounces of gold and 15,000 to 17,000 tonnes of copper with sector
leading All-In Sustaining Costs that range from $600 to $650 per ounce sold.
SOURCE OceanaGold Corporation