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MELBOURNE, Dec. 17, 2018 /CNW/ - OceanaGold Corporation
(TSX: OGC / ASX: OGC) (the "Company") is pleased to announce
that an independent panel of commissioners appointed by the Hauraki
District Council and the Waikato Regional Council (collectively the
"Regulator"), have granted all resource consents for the Martha
underground mine and resumption of mining operations from stage 4
of the Martha open pit, subject to the outcome of a statutory
appeal period.
Mick Wilkes, President and CEO of
OceanaGold said, "These consents represent a great outcome for the
Company, the town of Waihi and for the region, as the extended mine
life provides our valued employees and our shareholders with more
certainty that mining at Waihi will continue for at least the next
10 years. Waihi has had a long rich history of gold mining that
dates back to the 1800's and since then over 11 million ounces of
gold have been produced in the Coromandel. More recently, since
1988 when mining commenced at the Martha Open Pit, the Waihi
operation has been a major employer in the region and has
contributed a significant amount of socio-economic benefits while
operating to the highest of environmental standards globally."
Following receipt of these consents from the Regulator, parties
who provided submissions during the initial public hearing process
have until 1 February 2019 to appeal
the decision.
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 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 operates the Haile Gold Mine, a
top-tier, long-life, high-margin asset located in South Carolina. OceanaGold also has a
significant pipeline of organic growth and exploration
opportunities in the Americas and Asia-Pacific regions.
OceanaGold has operated sustainably since 1990 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.
The Company expects to produce 515,000 to 545,000 ounces of gold
and 15,000 to 16,000 tonnes of copper with All-In Sustaining Costs
that range from $725 to $775 per ounce sold.
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 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