What's Happening?
OceanaGold has secured approval from New Zealand's government for the Waihi North Project (WNP), which includes the development of the Wharekirauponga underground mine. This project is located approximately 10 kilometers north of the existing Waihi operation
on New Zealand's North Island. The approval allows for the construction and operation of the mine, as well as the expansion of processing and water treatment facilities and the construction of a new tailings storage facility. OceanaGold plans to commence tunneling activities in the first half of 2026, with gold production expected to begin in 2032. The project is anticipated to bring significant investment, job creation, and economic benefits to the region.
Why It's Important?
The approval of the Waihi North Project represents a significant milestone for OceanaGold and the New Zealand mining industry. It underscores the potential for economic growth through resource development, with the project expected to generate substantial investment and job opportunities. The project also highlights the importance of adhering to environmental regulations, as OceanaGold has committed to complying with New Zealand's rigorous environmental laws. The development of the mine is poised to contribute to the local economy while ensuring sustainable practices, setting a precedent for future mining projects in the region.
What's Next?
With the approval in place, OceanaGold will proceed with early works, design, and project activities for the Waihi North Project. The company plans to mobilize a mining contractor to begin tunneling activities in 2026, with the goal of starting gold production by 2032. OceanaGold will also focus on expanding exploration efforts to further define and convert resources at the Wharekirauponga site. The project's progress will be closely monitored by stakeholders, including local communities and environmental groups, to ensure compliance with environmental standards and to assess the project's impact on the region.
