5 Oct 2012

New gold mine nearing completion

1:41 pm on 5 October 2012

OceanaGold says a new gold and copper mine in the Philippines is near completion.

The company has mines in the South Island, Philippines, and joint mining and exploration licences in Australia.

It says grinding mills, high and low voltage switchrooms and some of the power generating units have been installed.

The company says other infrastructure will be completed in the next few weeks. It expects to start processing next month.

OceanaGold says about 1000 people will work at the Didipio mine.

Shares in the company were up 14 cents to $4.07 on Friday.