Seven-year extension for Macraes mine

Fri, 11 Sep 2020

OceanaGold expects its Macraes mine in Otago to operate through to 2028 on the back of increased reserves estimates and the planned development of the proposed Golden Point underground mine. The company yesterday raised its estimate of proven and probable reserves at Macraes by 240,000 ounces of gold, including an initial reserves estimate for Golden Point of 160,000 oz. That saw the formal life of the mine, the country’s biggest gold producer, extended from 2021 to 2028. That assumes the life of the Frasers underground operation is al...

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