/NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR
DISTRIBUTION TO US NEWSWIRE SERVICES./
MELBOURNE, Australia, Jan. 20 /CNW/ - OceanaGold Corporation (ASX: OGC,
TSX: OGC, NZX: OGC) ("the Company") wishes to provide a corporate
update relating to various media reports in recent days regarding
community issues associated with the Didipio Project in Northern Luzon,
The Company has been made aware that the Commission on Human Rights of
the Philippines ("CHR") has released a resolution in response to
certain allegations made against the Company in 2008/2009. The Company
is concerned that it has not been formally notified by the CHR office,
yet it would however appear that this report has been made available to
certain interest groups and media outlets in the Philippines.
OceanaGold is fully committed to the development of the Didipio Project.
The Company continues to maintain its obligations under the leasehold
agreement (Financial and Technical Assistance Agreement) and is
operating in accordance with the Philippine Mining Act in partnership
with the Philippine Government and with local community stakeholders.
The Company is compliant with all the laws and regulations associated
with operating as a foreign company in the Philippines and is committed
to ethical, responsible and sustainable mineral development.
The Company is actively involved in a number of community and
humanitarian programs in the local communities situated near the
Didipio Project with particular efforts in health and medicine, clean
water provision, education, reforestation and environment, community
development and infrastructure. The company insists it has met, and is
committed to continuing to meet, the human rights of the local
OceanaGold CEO, Mick Wilkes stated "The Company is firmly committed to
building strong and enduring relationships with our community in the
development and ongoing operations of the Didipio Project for the
benefit of all stakeholders."
OceanaGold has commenced pre-construction activities on the Didipio
Project, with detailed engineering design of infrastructure and the
process plant now underway. Additionally, key members of the project
management and construction team are now in place. The Didipio Project
is fully financed, has the necessary permits and is on schedule to
achieve commercial production in Q1 2013.
OceanaGold Corporation is a significant Pacific Rim gold producer with
projects located on the South Island of New Zealand and in the
Philippines. The Company's assets encompass New Zealand's largest gold
mining operation at the Macraes goldfield in Otago which is made up of
the Macraes open pit and the Frasers Underground mines. Additionally on
the west coast of the South Island, the Company operates the Reefton
open-pit mine. OceanaGold produces approximately 270,000 ounces of gold
per annum from the New Zealand operations. The Company also owns the
Didipio Project in northern Luzon, Philippines where construction is
scheduled to re-commence in H1 2011.
OceanaGold is listed on the Toronto, Australian and New Zealand stock
exchanges under the symbol OGC.
Statements in this release may be forward-looking statements or
forward-looking information within the meaning of applicable securities
laws. 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 are subject to a variety of
risks and uncertainties which could cause actual events or results to
differ from those reflected in the forward-looking statements
including, 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. There are no
assurances the Company can fulfil such forward-looking statements and,
subject to applicable securities laws, the Company undertakes no
obligation to update such 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. Accordingly,
readers should not place undue reliance on forward-looking statements.
SOURCE OceanaGold Corporation
For further information:
Mr Darren Klinck
Vice President, Corporate and Investor Relations
Tel: +61(3) 9656 5300