(MENAFN- ProactiveInvestors - Australia) OceanaGold (ASX:OGC) is on track with the commissioning of the Didipio gold mine in the Philippines with the ramp up of the processing plant underway.
To date, about 2,500 tonnes of copper-gold concentrate has been delivered to port and in excess of an additional 2,500 tonnes has been produced.
The company is in discussions with the Philippines government over tax exemptions pertaining to OceanaGold's Financial and Technical Assistance Agreement (FTAA).
Didipio is the first project to be built and start operations under the FTAA structure.
OceanaGold is a significant Asia Pacific gold producer with projects located in South Island of New Zealand and in the Philippines.
Its project in New Zealand includes the country'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, it operates the Reefton Open Pit mine.
OceanaGold's Didipio Mine in northern Luzon, Philippines is in commissioning and is expected to produce 100,000 ounces of gold and 14,000 tonnes of copper per year on average over an estimated 16 year mine life.
The company hopes to produce 285,000 to 325,000 ounces of gold in FY2013 from the New Zealand and Philippine operations combined.
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