Purchase of neighbouring farmland will allow Oceana Gold to expand its existing gold mining operation at Macraes. PHOTO: STEPHEN JAQUIERYOceana Gold has spent $11.25 million on land at Hyde to expand its existing open pit and underground Macraes gold mine. Part of the land would be used to expand the mine which adjoined the land and the remainder would be leased back to local farmers. It produced 157,400 ounces of gold and 3,200 tonnes of copper in the fourth quarter, an increase of gold production of 52% from the prior quarter. It was increasing its investment in exploration by 50% to a company record, in pursuit of high return options.

Source: Otago Daily Times March 03, 2026 15:39 UTC