OceanaGold has secured permit approval for the Waihi North Project (WNP) from New Zealand’s expert government panel.
This approval allows the company to construct and run the high-grade Wharekirauponga underground mine (WUG), located roughly 10km north of its existing Waihi operation.
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The Waihi gold district, situated around 140km south-east of Auckland on New Zealand’s North Island, is said to have produced an estimated eight million ounces (moz) of gold to date.
The approved permit authorises development of the WUG and its related surface infrastructure, including the expansion of the existing processing and water treatment facilities, and the construction of a new tailings storage facility.
This approval paves the way for significant growth for OceanaGold in New Zealand.
OceanaGold’s board has endorsed the appointment of a mining contractor to undertake tunnelling for the underground operation, as well as the awarding of contracts for bulk earthworks at the Willows portal site and for a power infrastructure upgrade.
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By GlobalDataThe mining contractor is expected to mobilise and commence tunnelling activities in the first half of 2026.
The permit also allows for an increase in the number of exploration drill pads and permits the number of drill rigs to be doubled to six.
This will allow OceanaGold to speed up both resource definition and conversion drilling at Wharekirauponga from 2026 onwards.
OceanaGold president and CEO Gerard Bond said: “We are delighted to have received approval for our WNP, which allows access to one of the best undeveloped, high-grade orebodies in our industry.
“This is a major milestone for OceanaGold and for the Waihi operation and is a testament to our 35-year history of safe and responsible mining in New Zealand.”
Early works, design and project activities at the WNP are currently under way.
Construction of the 5km services trench, which will carry power, water and communications from the existing Waihi operations to the Willows surface facilities area, began in the third quarter of 2025.
Civil construction and fabrication are also progressing at the expanded water treatment plant, with both the trench and plant projects targeted for completion by the second quarter of 2026.
Gold production from the WUG is set to commence in 2032, with the first stope ore expected in 2033.
Bond added: “We are grateful for the approval of this regionally significant project, for which we have done considerable work to ensure its compliance with all requirements of New Zealand’s rigorous environmental laws. The development of WNP will provide meaningful gold production for years to come while bringing substantial investment, job creation, and economic and biodiversity benefits for the surrounding communities and New Zealand.
“We are in a strong net cash position and expect to internally fund WNP over the coming years, as well as progress our other organic growth opportunities while generating strong returns for shareholders.”
