OceanaGold sees half-year profit despite quarterly production decline

Despite a quarter-on-quarter decline in gold production, owing to a lower head grade, in the three months to June 30, New Zealand-based gold explorer OceanaGold’s profit rose to $63-million, or 10c a share, in the first six months of the year. At its Didipio mine, in the Philippines, the company produced 90 887 oz of gold and 12 244 t of copper in the first half of the year, including 44 076 oz of gold and 6 272 t of copper in the second quarter.On the North Island of New Zealand, Oceana’s Waihi gold operation continued to track to guidance with 63 523 oz of gold produced including 26 540 oz in the second quarter.