OceanaGold halts mine operations at Philippines
By Vandana Singh
OceanaGold (OTCPK:OCANF +0.6%) halts mining at its Didipio gold and copper asset in the Philippines, on back of an ongoing dispute over its license to operate is negatively impacting the operation.
The company reacted by filing an injunction against any restraint to operations, but the provincial has court denied.
Didipio, which began production in 2013, has a measured and indicated resource of 1.3M ounces of gold and 160,000 tonnes of copper.
In 2019, the mine is expected to churn out between 120,000 and 130,000 ounces of gold and 14,000 to 15,000 tonnes of copper.
Source: Seeking Alpha