NZ-based miner starts Didipio construction

The New Zealand-based proponent of the Didipio copper-gold project has started its construction activities this month and will ramp up its operations in Didipio, Nueva Ecija in the coming weeks, OceanaGold Corp. said Wednesday. “We are very pleased to have commenced construction that will see commissioning on schedule in the fourth quarter [of] 2012," OceanaGold managing director and CEO Mick Wilkes said. “Over the past six months, we have been working hard to unlock significant value through adjustments to the design of the mine, process plant, and infrastructure which has seen average annual gold production increase by 45 percent and average annual copper production increase by 69 percent over the life of the mine," Wilkes added. Describing the project as crucial for OceanaGold, Wilkes said the project will pave the way for a significant platform to expand in the Philippines and within the Asia-Pacific. OceanaGold expects the Didipio project is expected to produce 100,000 ounces of gold and 14,000 metric tons of copper each year for the duration of the project. In March, OceanaGold bared plans to spend $140 million to restart and speed up the construction of the Didipio site while the Commission on Human Rights told government to revoke the company’s license. The company has also been accused of trampling upon the rights of the indigenous community in the area. Controversies have hounded the company’s Didipio operations, which the company halted in 2008 due to financial constraints amid the global financial crisis. — PE/VS, GMA News