OceanaGold Celebrates New Zealand’s Fast-Track Approvals Act for Infrastructure Projects

OceanaGold Welcomes New Zealand's Fast-Track Approvals Act

OceanaGold Corporation, a notable player in the gold and copper mining industry, has expressed its enthusiastic support for the New Zealand Parliament's recent approval of the Fast-track Approvals Bill. This important piece of legislation aims to streamline the process of obtaining consents for regionally and nationally significant infrastructure and development projects. The bill is set to open for applications on February 7, 2025, promising both efficiency and effectiveness in project initiation.

Among the projects eligible for this expedited approval process is OceanaGold's own Waihi North Project, which includes the proposed Wharekirauponga underground mine, commonly referred to as the WUG. This project is listed among the 149 initiatives that will benefit from the new fast-track process, providing a significant opportunity for timely advancement. OceanaGold intends to submit its application early in 2025, anticipating the completion of the permitting process by the end of the year, pending any appeals.

According to Gerard Bond, President and CEO of OceanaGold, the enactment of the Fast-track Approvals Act represents a major milestone for the company and the mining sector in New Zealand. The new legislation is expected to significantly reduce the risks traditionally associated with the permitting timeline, thereby creating a more favorable environment for investment in OceanaGold’s projects. This aligns with the company’s long-standing commitment to conducting operations responsibly and sustainably while maximizing shareholder value.

The positive economic impact of the WUG mine is further underscored by results from a recent pre-feasibility study, which indicate that the mine could generate substantial benefits over several decades for shareholders, employees, local communities, and the broader New Zealand economy. In such a sensitive ecological and cultural landscape, OceanaGold emphasizes its history of safe and responsible operations, with 35 years of experience in New Zealand's mining sector backing its commitment to community welfare and environmental stewardship.

In addition to the fast-tracking potential, OceanaGold has outlined plans for early works in 2025, which are estimated to require an investment of $40 to $45 million and will proceed without the need for fast-track approvals. This proactive approach is designed to ensure that preparations for the WUG mine can commence promptly, setting the stage for deeper underground development slated for 2026.

OceanaGold continues to maintain its commitment to transparency and innovation in the mining sector. To learn more about the Fast-track Approvals Act and the opportunities it presents, you can visit the official announcement made by the Government of New Zealand at New Zealand Government.

In summary, OceanaGold is poised to embark on a transformative journey thanks to the Fast-track Approvals Act, signaling a new era for mining projects in New Zealand that emphasizes both economic development and environmental responsibility. The positive effects of such legislation could resonate widely, encouraging further investment and growth within the region’s mining industry, while also safeguarding community interests—making it a win-win for all stakeholders involved.