OceanaGold posts first-half profit on strong first-quarter, Didipio

Wed, 30 Jul 2014

By Jonathan Underhill July 31 (BusinessDesk) - OceanaGold, which operates the Macraes goldfield in Otago, posted a first-half profit as its Didipio operation in the Philippines helped lift first-quarter earnings to a record, making up for a small loss in the second quarter blamed on higher New Zealand costs and weaker sales. The mining company achieved a profit of US$58.9 million in the first three months of the year as production from Didipio came onstream, lifting sales by 78 percent. In the second quarter, sales fell 2.7 percent to...

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