https://www.engineeringnews.co.za

OceanaGold sells stake in NZ mine

1st February 2024

By: Creamer Media Reporter

     

Font size: - +

Vancouver-headquartered OceanaGold on Wednesday announced the sale of its interest in the Blackwater project, in New Zealand, to Tasman Mining, a subsidiary of Federation Mining.

This comes as Tasman exercised its exclusive option on Blackwater, which has been held under a project deed since July 2018.

Under the terms of the agreement, OceanaGold is to receive $30-million in cash upon closing of the transaction. The deal is expected to close in 2024.  

The deposit at Blackwater was continuously mined from 1908 to 1951, producing about 700 000 oz at a recovered grade of about 16 g/t.

A preliminary economic assessment completed by OceanaGold in 2014 concluded that the project would be environmentally, technically and economically viable and produce 570 000 oz over an initial ten-year mine life.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

EKATO Africa
EKATO Africa

Established in 1933, EKATO is the world leader in agitation technology, supplying agitators for processes and applications such as chemicals and...

VISIT SHOWROOM 
SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.051 1.054s - 140pq - 2rq
Subscribe Now