Didipio mine reports 1.3 billion sales
Australian OceanaGold Corp.'s Didipio mine here made over P1.82 billion ($38 million) in cash for the third quarter on all gold-copper concentrate delivered at the San Fernando port in La Union province, according to OceanaGold's Q3 report.
The report said OceanaGold sold 19,151 ounces of gold and 3,356 tons of copper from inventory on hand at the Didipio mine and that the company expects to progressively receive all payments associated with the sale of gold-copper concentrate before the end of the year.
"I am very pleased with the financial performance of the business driven by strong Ebitda [earnings before interest, taxes, depreciation and amortization] and profits," Scott Sullivan, OceanaGold chief operating officer and acting chief executive officer, said.
Sullivan added that one of the main drivers of this financial performance relates to a strong quarter at Didipio, where the transportation of gold-copper concentrate has been completed.
"Despite this strong performance, we have much work ahead of us to progress the safe restart of Didipio processing and mining operations while continuing to manage the ongoing risks associated with the pandemic," he said.
In mid-July of this year, the Philippine government renewed the Didipio financial or technical assistance agreement (FTAA) for an additional 25-years effective June 19, 2019, the expiry date of its initial 25-year FTAA.
The FTAA is a permit issued to a multinational company sharing technology and resources to explore and extract minerals in the Philippines.
Sullivan said the renewal paved the way for resumption of operations and commencement of restart activities.
These activities included recruitment and training of the workforce, delivery of equipment and supplies, transportation and sale of gold and copper inventory (both doré and concentrate), process plant maintenance and recommissioning, and underground inspections and upgrades, also according to OceanaGold's report for the third quarter of this year.
Sullivan said the Didipio restart activities continue to exceed their expectations with recruiting and training activities progressing to plan despite the ongoing risks associated with Covid-19 with the resumption of underground mining and the delivery of underground ore to the run of mine (RoM) pad early in October, one month ahead of schedule.
He added that stope development is expected to commence in the coming weeks and they will continue to ramp up underground operations to full mining production rates for the next eight to nine months.
"Processing activities are tracking ahead of plan with recommissioning of the primary crusher completed in the third quarter. We expect milling at Didipio to recommence in mid-November with ore sourced primarily from stockpiles and supplemented progressively with higher-grade underground ore," Sullivan said.
OceanaGold said the Didipio restart activities continue to advance well with recruitment tracking to plan and the company expects 90 percent of the workforce to be in place by the end of the year, subject to the continued management of Covid-19.
In the third quarter, according to the company, it began ore mining, one month ahead of schedule while stope development is expected in November and that its first underground ore was delivered successfully to the RoM pad at the end of the third quarter.
As to its outlook, OceanaGold said it will continue to advance restart and ramp-up activities while managing the ongoing risks associated with Covid-19.
For the fourth quarter of 2021, it added that Didipio is now expected to produce between 7,000 and 12,000 ounces of gold (previously 5,000 to 10,000 ounces of gold) and 1,000 tons of copper with the range reflecting the ongoing risks noted.
Apollo Global signs new mining accord
September 30, 2021
A SUBSIDIARY of listed holding firm Apollo Global Capital Inc. forged a mines consortium agreement for its offshore magnetite iron mining project in Gonzaga, Cagayan.
The listed firm said in a stock exchange disclosure on Tuesday that its subsidiary, JDVC Resources Corp., and Agbiag Mining and Development Corp. entered into an agreement with equipment procurement contractor, Pelletized Iron & Titanium Vanadium (Phils.) Corp. (PITV)
Under the agreement, PITV was assigned 100 hectares out of the 1,897.0242-hectare area. It will deliver and manage siphon vessels and commercial extraction production platforms comprising of ship management, maintenance, and operation.
“PITV guarantees a minimum monthly volume production of 100,000 tons of export or high-grade magnetite iron sand,” the disclosure said.
For its part, Agbiag — as the mining contractor — will supervise, monitor, and collect royalties for JDVC.
Meanwhile, Apollo Global said the Cagayan Economic Zone Authority (CEZA) recently approved the application of Agbiag for the establishment of an on-shore production platform for a magnetite iron ore upgrading plant, as applied by PITV.
“This will be the strategic production platform of PITV, where instead of putting the magnetic separators on board a vessel, it will be installed onshore, inside CEZA, in order to achieve an output that has higher export grade magnetite iron for higher export value, through the upgrading plant,” it said.
FCF Minerals leads bamboo reforestation
Posted: November 15, 2021
Tuguegarao City, Cagayan- FCF Minerals Corporation in Runruno, Nueva Vizcaya led the bamboo reforestation program with its conversion of a clay source for mine tailings construction.
James Carmichael, FCF Minerals Corp. country manager, said the project started in September this year in time with the celebration of World Bamboo Day.
Carmichael said clay soil tends to become waterlogged and compacted, making it difficult for fledgling plants to establish a good root system.
"But with good soil management practices by our Mine Environmental Protection and Enhancement Office (Mepeo) and a bit of work, you can improve heavy clay to create soil that's a pleasure to plant with," he said.
Carmichael said the bamboo project, which now shows progress, was spearheaded by the company's Mepeo through its rehabilitation section.
OceanaGold starts processing at Didipio mine site
Posted November 4, 2021
CANADIAN-AUSTRALIAN mining firm OceanaGold Corp. said it started mineral processing at its Didipio gold and copper mine project in Nueva Vizcaya and Quirino provinces, a few months after securing a contract renewal from the government.
Scott Sullivan, OceanaGold chief operating officer, said the start of milling is two weeks ahead of schedule, following the completion of plant upgrades and maintenance activities, while the start of mining activity was one month earlier than planned.
“Following the confirmation of the Didipio Mine Financial or Technical Assistance Agreement (FTAA) renewal, Didipio is producing gold and copper again, which will be an important source of free cash flow generation for the company and a significant contributor of socio-economic benefits for the region and country,” Mr. Sullivan said in a statement Thursday.
“As the underground mining operations continue to ramp up over the course of the next eight to nine months, the primary ore feed will be sourced from low-grade stockpiles, of which the company has approximately 23 million tons of ore on surface,” he added.
According to OceanaGold, the Didipio process plant is estimated to hit throughput at a pace of 3.5 million tons per annum over the next few weeks.
It added that for the rest of 2021, the company expects to produce between 7,000 and 12,000 ounces of gold and 1,000 tons of copper with estimated all-in costs of between $100 and $150 per ounce on a by-product basis.
OceanaGold said it continues to ramp up operations to full production to rates of 10,000 ounces of gold and 1,000 tons of copper a month, while it managing risks from the coronavirus disease 2019 (COVID-19) pandemic.
In July, OceanaGold said it obtained a renewal of its FTAA for another 25 years, applied retroactively from June 19, 2019.
MGB employees undergo antigen test
May 7, 2021
Tuguegarao City, Cagayan- To check if employees of Mines and Geosciences Bureau ROII are not infected with coronavirus disease, Engr. Mario A. Ancheta instructed all MGB ROII staff to undergo antigen test for the safety of their co-employees and clients.
Further, employees who have flu-like symptoms like fever, colds, and cough shall likewise undergo antigen test.
Employees who tested positive will be subject for confirmatory swab test by the Cagayan Valley Medical Center.
This is one way of the Bureau to help the Local Government of Tuguegarao trace asymptomatic persons.
The antigen test was conducted by the Cagayan Provincial Health Office.