OceanaGold Commences Construction at Philippines Project

15 June 2011 (Last Updated June 15th, 2011 18:30)

OceanaGold Corporation has started construction activities at its Didipio project located in northern Luzon, the Philippines. The firm has identified opportunities through further pre-development studies to maximise project returns, and will progressively ramp up the construction activit

OceanaGold Corporation has started construction activities at its Didipio project located in northern Luzon, the Philippines.

The firm has identified opportunities through further pre-development studies to maximise project returns, and will progressively ramp up the construction activities in the coming weeks.

Oceana said the Didipio project is expected to produce around 100,000oz of gold and 14,000t of copper per annum.

The project's mine life has been shortened to 16 years with the open pit operating throughout and the underground operation expected to commence production in 2020.

OceanaGold managing director and CEO Mick Wilkes said the project will provide a significant platform upon which the firm can expand further into the Philippines and throughout the Asia Pacific region.