OceanaGold to bump up gold production by 20-25%

Company News

by Jessica Amir

Gold and copper producer, OceanaGold Corporation (ASX:OGC) is expecting to bump up its gold production by 20 to 25 per cent in 2018, compared to last year, with higher throughput rates.

Its total gold production should sit between 480,000 to 530,000 ounces of gold this year.

As for copper production, OceanaGold has labeled 2018 as a year of transition and it should see a steady ramp up of mining rates, taking its guidance to 15,000 to 16,000 tonnes.

The multibillion dollar corporation company also tipped one of its mines, Macraes will see a 20 per cent rise in production from higher grades.

OceanaGold is also advancing expansionary plans and investment in the Haile and Waihi gold mines.

Its OceanaGold Corporation (ASX:OGC) closed 0.29 per cent lower yesterday at $3.42
 

Jessica Amir

Finance News Network
Jessica is a senior finance journalist and presents the Market Outlook, Market at Midday and Market Wrap. She also presents ASX company news and interviews CEOs. She joined FNN in January 2017 with six years of broadcast journalism experience. She worked as a journalist and producer with Sky News Business, ABC 1, ABC's The Business and ABC24. She also worked in regional Australia for Prime 7 and WIN News as a TV reporter. In her prior life she worked as a financial planner.