In its first quarter 2017 earnings report, OceanaGold reported record quarterly consolidated production of 147,956 oz of gold. Consolidated all-in sustaining costs were $521/oz on sales of 114,022 oz of gold (excluding Haile) and 4,148 metric tons (mt) of copper. The company reported an after-tax profit of $36 million after recognizing an impairment charge of $17.7 million on the mining assets held in El Salvador. During the quarter the company also transitioned the Haile mine from the commissioning team to the operations team.
“We achieved record quarterly gold production on the back of record production at Didipio and the commencement of production at our newest asset Haile,” said Mick Wilkes, President and CEO, OceanaGold.
In March 2017, the Didipio mine received the top award for best workplace practices, second place award for environmental excellence, and third place award for best community program at the annual Global CSR Summit Awards in Malaysia. The summit recognizes corporate social responsibility excellence across multiple industries. In addition, during the quarter, the Mines and Geosciences Bureau of the Department of Environment and Natural Resources selected the Didipio mine for best practices in mineral processing and the Philippines’ entry to the First ASEAN Mineral Awards, to be held in Myanmar in late 2017.
