Australian-Canadian OceanaGold Corp. is investing up to $50 million or nearly P2.8 billion this year to sustain operations and explore additional resources in its mining project in Kasibu, Nueva Vizcaya. | jordeenelagare /PDI
A substantial portion of the investment totaling $20 million to $25 million will go to general operations, followed by growth capital with $10 million to $15 million .
“Exploration at Didipio will focus on resource conversion drilling and continued definition drilling of the two new mineralized structures recently discovered outside of the current resource,” it added. During the period of October to December last year, Didipio operations generated 29,104 ounces of gold and 3,476 tonnes of copper.“The fourth quarter was the second consecutive quarter in which underground mining operated at full target production rates,” OceanaGold noted.
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