OceanaGold says Didipio costs blow out US$35m to US$220m

Mon, 16 Jul 2012

July 16 (BusinessDesk) - Macraes goldfield operator OceanaGold said its Didipio gold and copper project in the Philippines is now estimated to cost US$220 million, US$35 million more than the company announced in June last year. OceanaGold also said it has credit approvals from a group of large multi-national banks for a three-year US$220 credit facility, subject to final documentation. The main reasons for the Didipio cost blow-out are “associated with increases in engineering design and procurement services, TSF (the tailings storage facil...

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