Macraes Mine

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View of mine and plant, 2007
Fraser's Pit of Macraes Mine in 2008

Macraes Mine in East Otago is New Zealand's largest gold mine,[1] owned by OceanaGold Corporation, which consists of a large scale opencast mine [2] (opened in 1990), and a newer underground mine, opened in 2008. [3] It is situated close to the settlement of Macraes Flat. Tours of the mine are available. [4]

Gold production averaged 193,000 ounces/year for 2008 through 2010. Ore grades have been declining, to 1.26 grams/tonne in 2010, but recoveries have improved slightly to 81% of the gold contained in the ore, in 2010. From 1990 through 2010, gold production has totaled about 3 million ounces. [5] The company claims a gold reserve of 1.53 MM troy oz Au plus a larger subeconomic gold resource; and expects the mine to operate at least through 2019. [3]

The gold bearing rocks were formed by the orogenic processes that created the Otago Schist belt.[6]

References[edit]

  1. ^ Robert Smith (2009-07-22). "OceanaGold successfully mines new capital". The National Business Review. Retrieved 2009-08-13. 
  2. ^ "New Zealand". Oceana Gold. 2008. Retrieved 2010-05-29. 
  3. ^ a b Macraes Mine at Oceana Gold
  4. ^ Mine tours
  5. ^ Oceana Gold Business Review, June 2011.
  6. ^ Craw, Dave. "Macraes Mine, East Otago, New Zealand,". Geology Department, University of Otago. Retrieved 2010-05-29. 

External links[edit]

Media related to Macraes Mine at Wikimedia Commons

Coordinates: 45°22′34″S 170°27′01″E / 45.3762°S 170.4504°E / -45.3762; 170.4504