Australian miner OceanaGold Corp. on Friday declared commencement of commercial production at its Didipio copper-gold project in Nueva Vizcaya.
In a statement posted in its website, OceanaGold said that its board reviewed the monthly operating metrics and cost profile of the project and determined the effective date of commercial production on April 1, 2013.
“We are extremely pleased to formally announce the declaration of commercial production at Didipio with an effective date of 1 April 2013. This marks the official start to a very important chapter for OceanaGold as we transition into a multinational gold producer,” said Mick Wilkes, OceanaGold managing director and chief executive.
“All revenues and operating costs will be reported to the income statement from that point,” he added.
Since construction commenced in June 2011, Wilkes said that the company has “successfully” progressed from first ore in the mills to commercial production in just over three months.
To date, more than 22,000 tons of copper gold concentrate has been produced from the Didipio mine.
For 2013, Didipio is expected to produce 50,000 ounces to 70,000 ounces gold and 15,000 tons to 18,000 tons of copper.
OceanaGold is a significant Asia Pacific gold producer with projects located on the South Island of New Zealand and in the Philippines.
James Konstantin Galvez