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MELBOURNE, Oct. 30, 2015 /CNW/ - OceanaGold Corporation (TSX/ASX/NZX: OGC) ("OceanaGold") is pleased to announce it has completed the acquisition of the Waihi Gold Mine located on the North Island of New Zealand from Newmont Mining Corporation ("Newmont").
The completion of the transaction follows the regulatory approval from New Zealand's Overseas Investment Office (OIO).
Mick Wilkes, OceanaGold's Managing Director and CEO, said he was excited to complete the purchase process and to add the Waihi Gold Mine to the Company's group of high quality assets.
"This year has been an exciting one for our business with the addition of the Haile Gold Mine and the Waihi Gold Mine into our portfolio. We now look forward to fully integrating the Waihi operation and its experienced workforce into our business and unlocking significant value from this asset."
Mr Wilkes further added that the company will focus on developing collaborative relationships with local stakeholders as it seeks to build on Newmont's strong history of local engagement and community support.
OceanaGold Corporation is a significant multinational gold producer with assets located in New Zealand, the Philippines and the United States. The Company's assets encompass its flagship operation, the Didipio Gold-Copper Mine located on the island of Luzon in the Philippines. On the south island of New Zealand, the Company operates the largest gold mine in the country at the Macraes Goldfield which is made up of the Coronation open pit and the Frasers underground mine. On the west coast of the South Island, the Company operates the Reefton Gold Mine. On the north island of New Zealand, the Company acquired the Waihi Gold Mine; the transaction has now received regulatory approval and is expected to close on 30 October 2015. In South Carolina, United States, the Company acquired the Haile Gold Mine through its acquisition of Romarco Minerals Inc. in September 2015. The Haile Gold Mine is a top-tier asset currently in construction and is expected to operate commercially early in 2017. OceanaGold has a pipeline of organic growth and exploration opportunities in the Australasia and Americas regions.
OceanaGold has operated sustainably over the past 25 years with a proven track record for environmental management and community and social engagement. The Company has a strong social license to operate and works collaboratively with its valued stakeholders to identify and invest in social programs that are designed to build capacity and not dependency.
In 2015, the Company expects to produce and attribute 380,000 to 410,000 ounces of gold from the combined New Zealand and Didipio operations and produce 22,000 to 23,500 tonnes of copper from the Didipio operation.
Cautionary Statement for Public Release
Certain information contained in this public release, including any information relating to the Company's future financial or operating performance may be deemed "forward-looking" within the meaning of applicable securities laws. Forward-looking statements and information relate to future performance and reflect the Company's expectations regarding the future growth, results of operations, business prospects and opportunities of OceanaGold Corporation and its related subsidiaries. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements such as production forecasts are subject to a variety of risks and uncertainties which could cause actual events, performance, achievements or results to differ materially from those expressed in the forward-looking statements. They include, among others, the accuracy of mineral reserve and resource estimates and related assumptions, inherent operating risks and those risk factors identified in the Company's most recent Annual Information Form prepared and filed with securities regulators which is available on SEDAR at www.sedar.com under the Company's name. There are no assurances the Company can fulfil forward-looking statements. Such forward-looking statements are only predictions based on current information available to management as of the date that such predictions are made; actual events or results may differ materially as a result of risks facing the Company, some of which are beyond the Company's control. Some of these risks and uncertainties include: general economic and market factors (including changes in global, national or regional financial credit, currency or securities markets); changes or developments in global, national or regional political conditions (including any act of terrorism or war); changes in laws (including tax laws) and changes in GAAP or regulatory accounting requirements; fluctuations in the price of gold; inability to obtain required consents, permits or approvals; and other risk factors as outlines in the Company's annual and interim filings. Readers are cautioned that the foregoing list of factors is not exhaustive. Although the Company believes that any forward-looking information contained in this press release is based on reasonable assumptions, readers cannot be assured that actual outcomes or results will be consistent with such statements. Accordingly, readers should not place undue reliance on forward-looking statements and information. The Company expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise, except as required by applicable securities laws. All forward looking information contained in this public release is qualified by this Cautionary Statement. The information contained in this release is not investment or financial product advice.
SOURCE OceanaGold Corporation
For further information: OceanaGold Corporation: Investor Relations - Toronto, Sam Pazuki, Tel: +1 416 915 3123; Media Relations - Melbourne, Andrea Atell, Tel: +61 3 9656 5300; email@example.com | www.oceanagold.com | Twitter: @OceanaGold