Macraes gold mine extension in running for fast track approval

New Zealand’s largest gold mine could get even bigger if OceanaGold gets approval to extend its Macrae’s operation for another three decades.

The Canada-headquartered company’s Macraes Phase 4 project has just been included in a list of projects potentially suitable to be fast-tracked through the consents process.

The New Zealand Government yesterday released the names of 149 Listed Projects that will be eligible to apply for approvals through processes under the proposed Fast-track Approvals Act.

Included in the list was the Waihi North Project, which includes the highly prospective Wharekirauponga (WKP) proposed underground mine, as well as the Otago-based Macraes Phase 4 Project, a mine extension permit.

"I am delighted to see both of our projects on the list for consideration under the new Fast-track Approvals Bill,” OceanaGold president and chief executive Gerard Bond says in a statement.

“We welcome a clear and timely regulatory process in New Zealand which supports the development of projects that can provide economic benefits while respecting important environmental, cultural and social protections.

“Expediting the permitting of our projects will preserve the jobs of 1,000 employees we have in New Zealand, provides new jobs and will deliver wider economic benefits for the local communities and the country.”

The Fast-track Approvals Bill is expected to be passed into law later this year, allowing listed projects to apply directly to a Government-appointed expert panel for final decision.

According to details of the project included in the project's Assessment of Environmental Effects (AEE), recent exploration success has highlighted opportunities to extend the economic life of mine to around 2030 by expanding some areas of the current operation, revisiting areas previously mined over the last 30 years and processing low grade ore that has been stockpiled on site.

In total, three open pit expansions are planned to recover deeper ore generally east of the current (consented) pit limits in the Innes Mills Pit, Golden Bar Pit and Coronation Pit.

OceanaGold owns on the land involved and says mining activities related to the existing open cut pits will mainly occur below ground level, so not to impact the landscape.

The company employs 600 people between its Macraes Operation and Dunedin office.

Regional Development Minister Shane Jones says projects were selected through a “thorough and robust” process, including an open application process run by Ministry for the Environment, analysis by officials, an independent assessment and recommendations process by an independent Advisory Group, and final decisions by Cabinet. 

“They will make a big difference in the regions by delivering jobs and growth and develop a pipeline of major projects to help boost the economy.”

Main image (Supplied): Regional Development Minister Shane Jones at OceaneaGold earlier this year.