OceanaGold takes control of Reefton mine

OceanaGold is to take full control of mining at its Reefton Gold Mine from April 1, and says there will be a significant increase in mining operations at Reefton, 79km northeast of Greymouth, this year.

It was assuming mining operations from Stracon Mining, which had been operating and maintaining OceanaGold's mining equipment fleet under an agreement at the operation since mining started in 2006, OceanaGold said today.

Chief operating officer Mark Cadzow said the company believed it could unlock more value at Reefton and operate it more efficiently.

"2001 will see a significant increase in our mining operations at Reefton and the timing is right to take the mine forward on an owner miner basis," Cadzow said.

OceanaGold moved to owner mining at the Frasers Underground mine at Macraes, Otago, last July.

- NZPA