Multinational OceanaGold Corp. projects improved gold production but roughly unchanged copper output this year from its mining operations in Didipio, Nueva Vizcaya.
Oceana Gold operates in the Philippines mainly via subsidiary OceanaGold (Philippines) Inc. (OGPI).
The company said the Didipio mines produced 113,198 ounces of gold last year but that could grow as much as 14.84 percent to between 120,000 to 130,000 ounces this year.
Copper production, however, could prove lower or flat at around 12,000 to 14,000 tons this year from last year’s 14,361 tons.
Nevertheless, its gold and copper production could be “evenly weighted throughout the year” with the company focused on resource conversion drilling and continued definition drilling of two new mineralized structures recently discovered outside the current resource in Nueva Vizcaya.
“Looking ahead to 2023 and beyond, our focus is to deliver on our near-mine lower risk, organic growth profile. Additionally, we will continue to invest in the exciting exploration opportunities across the business, with a focus on near-mine high return targets at Didipio, Haile and Wharekirauponga,” said Gerard Bond, OceanaGold president and chief executive officer.
Data from the Mines and Geosciences Bureau (MGB) show OGPI as among the country’s top gold producers last year and credited the company’s performance as a factor in the improved overall gold production of the Philippines during the period.
Last year, OceanaGold executives said they have other mining prospects in the Philippines although focus remains on the Didipio mine at the moment.
