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OceanaGold starts milling at Haile gold mine

OceanaGold Corp. said Dec. 29 that milling has started at its Haile gold mine in South Carolina.

The company expects to produce 150,000 ounces to 170,000 ounces of gold at Haile in 2017 at all-in sustaining costs of between US$500 per ounce to US$550 per ounce.

Total production for the company in 2017 is expected between 550,000 ounces and 610,000 ounces of gold, a 35% increase on a yearly basis.

OceanaGold will continue to advance the Haile expansion study, with results expected in the middle of 2017.

The company has about 675,000 tonnes of ore stockpiled on surface, including 275,000 tonnes grading 2.3 g/t of sulfide ore, 245,000 tonnes grading 0.6 g/t of oxide ore and 155,000 tonnes grading 1.1 g/t of transitional material.