OceanaGold Receives Permit Approval for the Waihi North Project

Core Viewpoint - OceanaGold Corporation has received final approval from the New Zealand government for the Waihi North Project, marking a significant milestone for the company and setting the stage for transformative growth in New Zealand [1][2]. Project Approval and Development - The approval allows OceanaGold to develop and operate the high-grade Wharekirauponga Underground mine, including necessary surface infrastructure, processing plant expansion, and a new tailings storage facility [2][5]. - The mining contractor has been selected for tunneling, with operations expected to begin in the first half of 2026 [3][10]. Exploration and Drilling - The permit includes an increase in exploration drill pads and a doubling of allowable drill rigs to six, facilitating accelerated drilling at Wharekirauponga in 2026 and beyond [4]. Economic and Community Impact - The development of the Waihi North Project is expected to provide significant gold production, investment, job creation, and economic benefits for surrounding communities and New Zealand [6][9]. - The project aims to extend the life of the Waihi operation and create substantial direct and indirect employment opportunities [9]. Project Timeline and Production - Early works and design activities are progressing, with the construction of a 5 km services trench initiated in Q3 2025, and completion expected by Q2 2026 [11]. - Gold production from the Wharekirauponga Underground mine is anticipated to begin in 2032, with first stope ore expected in 2033 [11].