MINING
Building a high quality gold mining Company Today , OceanaGold controls and operates a portfolio of mines in the three largest goldfields in New Zealand , including the Macraes operation .
As OceanaGold ’ s pride and joy , the Macraes operation has been operating since 1990 and has produced over four million ounces of gold to date . The site is comprised of an open pit and an underground mine ( Frasers
Underground ), commissioned in 2008 .
“ The project started out with a seven year mine life . It ’ s never been particularly profitable as it contains a very low grade , but through the tenacity of our workforce and their innovation , they ’ ve been able to keep the operation generating a positive cash flow ,” said Wilkes .
According to Wilkes , Macraes has an estimated 4 million ounces of gold left in resources but it ’ s an “ incremental process ” that
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